Analysts Set Expectations for Moelis & Company’s Q2 2024 Earnings (NYSE:MC)

Moelis & Company (NYSE:MCFree Report) – Equities research analysts at Seaport Res Ptn lowered their Q2 2024 EPS estimates for Moelis & Company in a research report issued to clients and investors on Thursday, February 8th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will earn $0.03 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Moelis & Company’s current full-year earnings is $1.57 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q3 2024 earnings at $0.44 EPS, FY2024 earnings at $1.20 EPS, Q3 2025 earnings at $0.64 EPS and Q4 2025 earnings at $0.92 EPS.

Other research analysts have also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Moelis & Company from $39.00 to $38.00 and set an “underweight” rating for the company in a report on Friday, November 3rd. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. The Goldman Sachs Group increased their price target on shares of Moelis & Company from $41.00 to $47.00 and gave the stock a “sell” rating in a report on Tuesday, December 19th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $56.00 price target on shares of Moelis & Company in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.60.

Get Our Latest Stock Analysis on Moelis & Company

Moelis & Company Stock Performance

Shares of MC opened at $56.08 on Monday. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -155.78 and a beta of 1.37. The firm has a 50-day simple moving average of $54.99 and a 200-day simple moving average of $48.55.

Moelis & Company (NYSE:MCGet Free Report) last announced its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.72%. The business had revenue of $214.90 million during the quarter, compared to the consensus estimate of $197.98 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year.

Moelis & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th will be issued a $0.60 dividend. The ex-dividend date is Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a yield of 4.28%. Moelis & Company’s dividend payout ratio (DPR) is presently -666.67%.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MC. Advisor Group Holdings Inc. boosted its holdings in shares of Moelis & Company by 12.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,269 shares of the asset manager’s stock valued at $438,000 after purchasing an additional 1,498 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Moelis & Company by 3.2% in the 1st quarter. Bank of New York Mellon Corp now owns 556,181 shares of the asset manager’s stock valued at $26,113,000 after purchasing an additional 17,074 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Moelis & Company by 9.1% in the 1st quarter. US Bancorp DE now owns 7,401 shares of the asset manager’s stock valued at $348,000 after purchasing an additional 620 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Moelis & Company by 95.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,478 shares of the asset manager’s stock valued at $351,000 after acquiring an additional 3,653 shares in the last quarter. Finally, Cetera Advisor Networks LLC lifted its holdings in shares of Moelis & Company by 15.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 6,366 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 828 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

About Moelis & Company

(Get Free Report)

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, governments, and sovereign wealth funds.

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Earnings History and Estimates for Moelis & Company (NYSE:MC)

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