Moelis & Company Expected to Post Q2 2024 Earnings of $0.13 Per Share (NYSE:MC)

Moelis & Company (NYSE:MC) – Stock analysts at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Moelis & Company in a research report issued to clients and investors on Friday, April 19th. Zacks Research analyst R. Department now expects that the asset manager will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.16. The consensus estimate for Moelis & Company’s current full-year earnings is $1.47 per share. Zacks Research also issued estimates for Moelis & Company’s Q3 2024 earnings at $0.33 EPS, FY2024 earnings at $1.24 EPS, Q2 2025 earnings at $0.66 EPS, Q1 2026 earnings at $0.70 EPS and FY2026 earnings at $4.01 EPS.

A number of other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $56.00 target price on shares of Moelis & Company in a research report on Monday, January 29th. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. UBS Group lowered their target price on Moelis & Company from $46.00 to $45.00 and set a “sell” rating on the stock in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their price target on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $50.80.

Moelis & Company Price Performance

MC stock opened at $53.20 on Monday. The company has a market capitalization of $3.79 billion, a P/E ratio of -147.78 and a beta of 1.35. Moelis & Company has a 12 month low of $33.87 and a 12 month high of $58.67. The firm’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $51.36.

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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $197.98 million. During the same quarter in the prior year, the company earned $0.33 EPS. Moelis & Company’s quarterly revenue was up 3.7% on a year-over-year basis.

Institutional Trading of Moelis & Company

Several institutional investors have recently made changes to their positions in MC. National Bank of Canada FI boosted its stake in Moelis & Company by 16,435.6% during the third quarter. National Bank of Canada FI now owns 83,505 shares of the asset manager’s stock worth $3,679,000 after buying an additional 83,000 shares during the period. Everence Capital Management Inc. acquired a new stake in Moelis & Company in the 3rd quarter valued at approximately $347,000. Raymond James Financial Services Advisors Inc. raised its position in Moelis & Company by 21.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,928 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 1,035 shares during the period. New York State Teachers Retirement System raised its position in Moelis & Company by 20.1% in the third quarter. New York State Teachers Retirement System now owns 21,024 shares of the asset manager’s stock valued at $949,000 after purchasing an additional 3,524 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Moelis & Company by 14.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the asset manager’s stock worth $487,000 after purchasing an additional 1,394 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Buying and Selling at Moelis & Company

In related news, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.59, for a total value of $55,733.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Joseph Simon sold 8,149 shares of Moelis & Company stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $428,637.40. Following the transaction, the chief financial officer now owns 8,573 shares in the company, valued at $450,939.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,185 shares of company stock valued at $20,130,225. Company insiders own 6.96% of the company’s stock.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.60 per share. The ex-dividend date was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a yield of 4.51%. Moelis & Company’s dividend payout ratio is currently -666.67%.

About Moelis & Company

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.