Moelis & Company Expected to Earn Q1 2024 Earnings of $0.17 Per Share (NYSE:MC)

Moelis & Company (NYSE:MC) – Seaport Res Ptn upped their Q1 2024 earnings per share (EPS) estimates for shares of Moelis & Company in a research note issued on Wednesday, April 10th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $0.17 per share for the quarter, up from their prior estimate of $0.07. The consensus estimate for Moelis & Company’s current full-year earnings is $1.50 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q2 2024 earnings at $0.11 EPS and Q3 2024 earnings at $0.29 EPS.

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

MC has been the subject of a number of other reports. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and increased their price target for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price target on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $56.00 price objective on shares of Moelis & Company in a research note on Monday, January 29th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.80.

Moelis & Company Trading Down 2.6 %

NYSE MC opened at $52.05 on Monday. The firm has a market capitalization of $3.70 billion, a P/E ratio of -144.58 and a beta of 1.35. The business has a fifty day simple moving average of $54.70 and a 200 day simple moving average of $51.12. Moelis & Company has a 12 month low of $33.87 and a 12 month high of $58.67.

Moelis & Company Announces Dividend

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

Insider Transactions at Moelis & Company

In other news, CEO Kenneth Moelis sold 75,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the completion of the transaction, the chief executive officer now owns 86,441 shares in the company, valued at approximately $4,677,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Kenneth Moelis sold 75,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the completion of the transaction, the chief executive officer now owns 86,441 shares in the company, valued at approximately $4,677,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Callesano sold 1,040 shares of the stock in a transaction 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. In the last 90 days, insiders sold 375,185 shares of company stock worth $20,130,225. 6.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Peak Financial Advisors LLC boosted its stake in Moelis & Company by 2.9% in the 1st quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager’s stock worth $495,000 after purchasing an additional 245 shares during the period. Goldman Sachs Group Inc. boosted its stake in Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after purchasing an additional 334,620 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Moelis & Company by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,338 shares of the asset manager’s stock worth $1,872,000 after purchasing an additional 2,763 shares during the period. Winslow Asset Management Inc. boosted its stake in Moelis & Company by 1.5% in the 4th quarter. Winslow Asset Management Inc. now owns 174,963 shares of the asset manager’s stock worth $9,821,000 after purchasing an additional 2,593 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Moelis & Company by 50.7% in the 4th quarter. Townsquare Capital LLC now owns 18,022 shares of the asset manager’s stock valued at $1,012,000 after acquiring an additional 6,065 shares in the last quarter. 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.