Moelis & Co Lifted to Outperform at Zacks (MC)
Moelis & Co (NYSE:MC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Friday. The firm currently has a $36.50 price target on the stock. Zacks‘s target price would suggest a potential upside of 7.20% from the company’s current price.
Shares of Moelis & Co (NYSE:MC) traded down 0.41% during mid-day trading on Friday, hitting $33.91. The stock had a trading volume of 26,408 shares. Moelis & Co has a 1-year low of $25.75 and a 1-year high of $36.01. The stock has a 50-day moving average of $33.14 and a 200-day moving average of $31.51. The company’s market cap is $513.9 million.
Moelis & Co (NYSE:MC) last announced its earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.18. 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. On average, analysts predict that Moelis & Co will post $1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 8th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, August 21st.
A number of other firms have also recently commented on MC. 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. 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. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.25.
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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