Brokerages Set Moelis & Company (NYSE:MC) Price Target at $60.83

Shares of Moelis & Company (NYSE:MC) have been assigned a consensus recommendation of “Reduce” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $60.83.

MC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley cut their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. UBS Group lifted their price target on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock.

Moelis & Company Stock Performance

MC opened at $68.00 on Wednesday. The stock’s fifty day moving average is $67.67 and its 200-day moving average is $61.51. The company has a market capitalization of $5.09 billion, a PE ratio of 128.30 and a beta of 1.33. Moelis & Company has a one year low of $40.88 and a one year high of $72.80.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. Moelis & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. On average, equities research analysts forecast that Moelis & Company will post 0.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.53%. Moelis & Company’s dividend payout ratio (DPR) is currently 452.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MC. Wealth Enhancement Advisory Services LLC purchased a new position in Moelis & Company in the first quarter valued at about $5,062,000. Hexagon Capital Partners LLC boosted its stake in shares of Moelis & Company by 147.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Moelis & Company during the 1st quarter worth about $3,630,000. BNP Paribas Financial Markets boosted its stake in shares of Moelis & Company by 14.5% during the 1st quarter. BNP Paribas Financial Markets now owns 46,726 shares of the asset manager’s stock worth $2,653,000 after acquiring an additional 5,932 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Moelis & Company by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 39,461 shares of the asset manager’s stock worth $2,240,000 after acquiring an additional 3,283 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

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.