Moelis & Co (MC) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS
Moelis & Co (NYSE:MC) posted its quarterly earnings results on Wednesday. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.18, AnalystRatingsNetwork reports. The company had revenue of $131.70 million for the quarter, compared to the consensus estimate of $84.80 million. Moelis & Co’s revenue was up 33.7% compared to the same quarter last year.
MC has been the subject of a number of recent research reports. Analysts at JMP Securities reiterated a “market outperform” rating on shares of Moelis & Co in a research note on Friday, July 11th. They now have a $35.00 price target on the stock, up previously from $33.00. On the ratings front, analysts at Susquehanna initiated coverage on shares of Moelis & Co in a research note on Thursday, June 5th. They set a “neutral” rating and a $31.00 price target on the stock. Finally, analysts at Rafferty Capital Markets initiated coverage on shares of Moelis & Co in a research note on Wednesday, May 21st. They set a “hold” rating and a $32.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.60.
Shares of Moelis & Co (NYSE:MC) traded up 4.03% during mid-day trading on Wednesday, hitting $34.08. The stock had a trading volume of 96,809 shares. Moelis & Co has a 52 week low of $25.75 and a 52 week high of $35.85. The stock has a 50-day moving average of $33.0 and a 200-day moving average of $30.87. The company has a market cap of $516.5 million and a price-to-earnings ratio of 15.62.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 8th. Stockholders of record on Monday, August 25th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.42%.
Moelis & Company is a global independent investment bank that provides strategic and financial advice to a diverse client base, including corporations, governments and financial sponsors.
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