FY2024 EPS Estimates for Moelis & Company (NYSE:MC) Cut by Seaport Res Ptn

Moelis & Company (NYSE:MC) – Equities researchers at Seaport Res Ptn decreased their FY2024 earnings estimates for Moelis & Company in a research report issued to clients and investors on Wednesday, April 10th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings of $1.10 per share for the year, down from their prior forecast of $1.20. The consensus estimate for Moelis & Company’s current full-year earnings is $1.53 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.52 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $2.50 EPS.

A number of other equities analysts also recently issued reports on MC. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price target on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a report on Tuesday. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $56.00 price target on shares of Moelis & Company in a report on Monday, January 29th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Trading Down 2.6 %

MC opened at $52.05 on Friday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of -144.58 and a beta of 1.35. The company’s 50 day moving average is $54.70 and its 200 day moving average is $51.03. Moelis & Company has a 12-month low of $33.87 and a 12-month high of $58.67.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. The firm had revenue of $214.90 million during the quarter, compared to analyst estimates of $197.98 million. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company’s dividend payout ratio is presently -666.67%.

Insider Buying and Selling

In related news, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction on 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 SEC, which is accessible through this link. In related news, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction on 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 SEC, which is accessible through this link. Also, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the completion of the sale, the chief executive officer now owns 161,810 shares in the company, valued at approximately $8,511,206. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,185 shares of company stock worth $20,130,225. Insiders own 6.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Moelis & Company by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 792,729 shares of the asset manager’s stock valued at $35,776,000 after acquiring an additional 42,424 shares during the last quarter. Teza Capital Management LLC boosted its stake in shares of Moelis & Company by 75.7% during the third quarter. Teza Capital Management LLC now owns 32,538 shares of the asset manager’s stock valued at $1,468,000 after purchasing an additional 14,016 shares during the period. HighTower Advisors LLC boosted its stake in shares of Moelis & Company by 3.2% during the third quarter. HighTower Advisors LLC now owns 1,111,200 shares of the asset manager’s stock valued at $50,144,000 after purchasing an additional 34,740 shares during the period. Swiss National Bank boosted its stake in shares of Moelis & Company by 5.0% during the third quarter. Swiss National Bank now owns 146,300 shares of the asset manager’s stock valued at $6,603,000 after purchasing an additional 7,000 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Moelis & Company by 0.4% during the third quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock valued at $351,449,000 after purchasing an additional 28,446 shares during the period. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Company Profile

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, as well as strategic, capital structure, and private funds advisory.