Analysts Set Moelis & Company (NYSE:MC) Target Price at $60.83

Shares of Moelis & Company (NYSE:MC) have received an average rating of “Reduce” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.83.

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

Institutional Investors Weigh In On Moelis & Company

Institutional investors have recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Moelis & Company during the third quarter worth approximately $26,000. UMB Bank n.a. raised its position in shares of 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after buying an additional 534 shares in the last quarter. Blue Trust Inc. raised its position in shares of Moelis & Company by 193.0% in the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager’s stock valued at $74,000 after buying an additional 712 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Moelis & Company in the third quarter valued at approximately $75,000. Institutional investors own 91.53% of the company’s stock.

Moelis & Company Trading Down 1.4 %

Shares of Moelis & Company stock opened at $75.85 on Friday. The company has a market capitalization of $5.68 billion, a PE ratio of 143.11 and a beta of 1.33. Moelis & Company has a 12 month low of $45.45 and a 12 month high of $81.60. The stock’s fifty day simple moving average is $70.94 and its 200 day simple moving average is $64.13.

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 the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter last year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts predict that Moelis & Company will post 0.96 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is currently 452.83%.

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.