Moelis & Company (MC) Scheduled to Post Quarterly Earnings on Wednesday

Moelis & Company (NYSE:MC) will be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.05 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The company had revenue of $214.90 million during the quarter, compared to the consensus estimate of $197.98 million. During the same period in the prior year, the company earned $0.33 EPS. Moelis & Company’s revenue was up 3.7% on a year-over-year basis. On average, analysts expect Moelis & Company to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Moelis & Company Price Performance

Shares of MC opened at $51.08 on Wednesday. Moelis & Company has a one year low of $33.87 and a one year high of $58.67. The company has a 50-day moving average of $54.63 and a two-hundred day moving average of $51.16. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -141.89 and a beta of 1.35.

Moelis & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 4.70%. The ex-dividend date was Friday, February 16th. Moelis & Company’s payout ratio is presently -666.67%.

Insiders Place Their Bets

In related news, Vice Chairman Eric Cantor sold 17,857 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $939,278.20. Following the sale, the insider now directly owns 195,863 shares in the company, valued at approximately $10,302,393.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Vice Chairman Eric Cantor sold 17,857 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $939,278.20. Following the completion of the transaction, the insider now directly owns 195,863 shares in the company, valued at approximately $10,302,393.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the completion of the transaction, the chief executive officer now owns 161,810 shares of the company’s stock, valued at $8,511,206. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 375,185 shares of company stock valued at $20,130,225. Insiders own 6.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Moelis & Company by 4.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,010,589 shares of the asset manager’s stock worth $269,487,000 after buying an additional 272,370 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Moelis & Company by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 6,645,142 shares of the asset manager’s stock valued at $311,989,000 after purchasing an additional 225,659 shares during the last quarter. BlackRock Inc. raised its stake in Moelis & Company by 16.2% in the 2nd quarter. BlackRock Inc. now owns 6,239,113 shares of the asset manager’s stock worth $282,881,000 after acquiring an additional 870,362 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Moelis & Company by 1,654.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,807,979 shares of the asset manager’s stock worth $217,994,000 after purchasing an additional 4,533,955 shares during the period. Finally, Alliancebernstein L.P. grew its position in Moelis & Company by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 2,907,088 shares of the asset manager’s stock worth $111,545,000 after purchasing an additional 18,721 shares during the period. Institutional investors own 91.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. UBS Group reduced their price target on Moelis & Company from $46.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $56.00 price objective on shares of Moelis & Company in a research note on Monday, January 29th. Finally, JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $50.80.

Moelis & Company Company Profile

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.