Moelis & Company (NYSE:MC) Receives $60.83 Consensus Price Target from Brokerages

Shares of Moelis & Company (NYSE:MC) have been given a consensus rating of “Reduce” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $60.83.

A number of research firms have weighed in on MC. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective on the stock. Morgan Stanley cut their price target on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday, October 24th. Finally, UBS Group increased their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th.

Moelis & Company Price Performance

NYSE MC opened at $76.88 on Friday. Moelis & Company has a 1-year low of $44.53 and a 1-year high of $81.60. The business has a 50 day simple moving average of $70.65 and a two-hundred day simple moving average of $63.89. The stock has a market capitalization of $5.76 billion, a PE ratio of 146.42 and a beta of 1.33.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Moelis & Company’s revenue was up .6% on a year-over-year basis. On average, analysts anticipate that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.60 dividend. The ex-dividend date is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.12%. Moelis & Company’s dividend payout ratio is presently 452.83%.

Institutional Trading of Moelis & Company

Hedge funds have recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of Moelis & Company during the 3rd quarter valued at $26,000. UMB Bank n.a. raised its stake in Moelis & Company by 63.5% in the second quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock valued at $28,000 after buying an additional 193 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock worth $68,000 after acquiring an additional 534 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock worth $74,000 after acquiring an additional 712 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Moelis & Company during the third quarter valued at about $75,000. 91.53% of the stock is owned by hedge funds and other institutional investors.

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.