Morgan Stanley Boosts Moelis & Co (MC) Price Target to $60.00

Moelis & Co (NYSE:MC) had its price target lifted by Morgan Stanley from $49.00 to $60.00 in a report issued on Friday. The brokerage presently has an “overweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential upside of 15.27% from the company’s current price.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Moelis & Co from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Bank of America increased their price target on shares of Moelis & Co from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities increased their price target on shares of Moelis & Co from $44.00 to $47.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 26th. Finally, UBS Group increased their price target on shares of Moelis & Co from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $50.17.

Moelis & Co (NYSE:MC) traded up $0.05 during midday trading on Friday, hitting $52.05. 797,097 shares of the company traded hands, compared to its average volume of 272,507. The firm has a market cap of $2,760.00, a price-to-earnings ratio of 65.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.85. Moelis & Co has a twelve month low of $34.60 and a twelve month high of $52.95.

Moelis & Co (NYSE:MC) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.10. The business had revenue of $169.17 million for the quarter, compared to analyst estimates of $160.22 million. Moelis & Co had a net margin of 4.29% and a return on equity of 48.98%. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. equities research analysts forecast that Moelis & Co will post 2.62 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Stifel Financial Corp lifted its stake in Moelis & Co by 1.3% in the 2nd quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 478 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Moelis & Co by 1.9% in the 2nd quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock valued at $1,605,000 after purchasing an additional 780 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Moelis & Co by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 18,252 shares of the asset manager’s stock valued at $885,000 after purchasing an additional 1,106 shares during the last quarter. Legal & General Group Plc lifted its stake in Moelis & Co by 19.2% in the 3rd quarter. Legal & General Group Plc now owns 7,662 shares of the asset manager’s stock valued at $330,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in Moelis & Co by 69.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock valued at $152,000 after purchasing an additional 1,442 shares during the last quarter. 56.49% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This article was first published by American Banking News and is owned by of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/02/09/morgan-stanley-boosts-moelis-co-mc-price-target-to-60-00.html.

Moelis & Co Company Profile

Moelis & Company is an investment banking advisory company. 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. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

Receive News & Ratings for Moelis & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply