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

Moelis & Company (NYSE:MC) – Seaport Res Ptn raised their Q1 2024 earnings per share estimates for Moelis & Company in a report 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 previous forecast 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.

MC has been the topic of a number of other research reports. The Goldman Sachs Group raised 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 note on Wednesday, March 13th. UBS Group reduced their target price on Moelis & Company from $46.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. 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 research note on Thursday, February 8th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average target price of $50.80.

Moelis & Company Stock Performance

Shares of MC stock opened at $51.73 on Monday. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67. The company has a market capitalization of $3.68 billion, a PE ratio of -143.69 and a beta of 1.35. The business’s fifty day moving average is $54.63 and its 200 day moving average is $51.16.

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

Institutional Investors Weigh In On Moelis & Company

Large investors have recently added to or reduced their stakes in the stock. First Capital Advisors Group LLC. bought a new stake in Moelis & Company in the 2nd quarter worth approximately $26,000. Mendota Financial Group LLC bought a new stake in shares of Moelis & Company during the 4th quarter valued at $34,000. GAMMA Investing LLC bought a new stake in shares of Moelis & Company during the 4th quarter valued at $34,000. Tower Research Capital LLC TRC grew its position in shares of Moelis & Company by 380.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,378 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 1,091 shares during the period. Finally, Covestor Ltd grew its position in shares of Moelis & Company by 230.3% during the 1st quarter. Covestor Ltd now owns 1,539 shares of the asset manager’s stock valued at $72,000 after acquiring an additional 1,073 shares during the period. Institutional investors own 91.53% of the company’s stock.

Insider Activity

In other news, insider Navid Mahmoodzadegan sold 20,001 shares of Moelis & Company stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the completion of the transaction, the insider now directly owns 79,859 shares in the company, valued at $4,457,729.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Navid Mahmoodzadegan sold 20,001 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.82, for a total transaction of $1,116,455.82. Following the completion of the sale, the insider now owns 79,859 shares of the company’s stock, valued at $4,457,729.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Callesano sold 1,040 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,185 shares of company stock worth $20,130,225. Insiders own 6.96% of the company’s stock.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, February 20th were issued 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 4.64%. Moelis & Company’s payout ratio is -666.67%.

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.