Moelis & Co. (MC) Rating Increased to Buy at Zacks Investment Research
Moelis & Co. (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $29.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.58% from the stock’s previous close.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
A number of other brokerages also recently weighed in on MC. Morgan Stanley reiterated a “buy” rating on shares of Moelis & Co. in a report on Tuesday, June 7th. Credit Suisse Group AG restated a “hold” rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.00.
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Moelis & Co. (NYSE:MC) traded down 0.95% during midday trading on Tuesday, reaching $25.99. The company’s stock had a trading volume of 87,907 shares. Moelis & Co. has a 1-year low of $21.91 and a 1-year high of $31.84. The company has a market capitalization of $535.37 million, a price-to-earnings ratio of 15.48 and a beta of 1.73. The company’s 50-day moving average price is $26.37 and its 200-day moving average price is $26.27.
Moelis & Co. (NYSE:MC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The business earned $131.70 million during the quarter, compared to the consensus estimate of $131.44 million. During the same period in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Moelis & Co. will post $1.62 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in MC. Legal & General Group Plc raised its stake in shares of Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock valued at $100,000 after buying an additional 1,630 shares during the period. BlackRock Advisors LLC raised its stake in shares of Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock valued at $213,000 after buying an additional 920 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Moelis & Co. during the second quarter valued at $222,000. American International Group Inc. raised its stake in shares of Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock valued at $241,000 after buying an additional 396 shares during the period. Finally, Clinton Group Inc. purchased a new stake in shares of Moelis & Co. during the second quarter valued at $246,000. Institutional investors own 84.45% of the company’s stock.
About Moelis & Co.
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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