Moelis & Company (NYSE:MC) Expected to Post Q3 2024 Earnings of $0.25 Per Share

Moelis & Company (NYSE:MC) – Equities research analysts at Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Moelis & Company in a report issued on Friday, April 26th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.29. The consensus estimate for Moelis & Company’s current full-year earnings is $1.29 per share.

A number of other research firms have also recently issued reports on MC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research report on Thursday. UBS Group increased their price target on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Finally, The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.80.

Moelis & Company Stock Down 1.0 %

Shares of Moelis & Company stock opened at $49.75 on Monday. Moelis & Company has a 12-month low of $33.87 and a 12-month high of $58.67. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -261.84 and a beta of 1.35. The firm’s 50-day moving average price is $54.07 and its two-hundred day moving average price is $51.64.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 6th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Friday, May 3rd. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Insider Transactions at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 128,277 shares of the stock in a transaction dated 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 directly owns 161,810 shares in the company, valued at approximately $8,511,206. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Moelis & Company news, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at $8,511,206. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christopher Callesano sold 1,040 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. Insiders sold a total of 375,185 shares of company stock worth $20,130,225 over the last three months. 6.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in Moelis & Company by 21.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 5,928 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 1,035 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Moelis & Company by 20.1% during the third quarter. New York State Teachers Retirement System now owns 21,024 shares of the asset manager’s stock valued at $949,000 after buying an additional 3,524 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Moelis & Company by 14.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the asset manager’s stock worth $487,000 after acquiring an additional 1,394 shares in the last quarter. Strs Ohio raised its holdings in shares of Moelis & Company by 28.6% in the 3rd quarter. Strs Ohio now owns 3,600 shares of the asset manager’s stock worth $162,000 after acquiring an additional 800 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Moelis & Company by 6.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,484 shares of the asset manager’s stock valued at $1,331,000 after acquiring an additional 1,741 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

About Moelis & Company

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.