Q3 2024 Earnings Estimate for Moelis & Company (NYSE:MC) Issued By Seaport Res Ptn

Moelis & Company (NYSE:MC) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 earnings per share estimates for Moelis & Company in a research note issued to investors on Wednesday, October 9th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $0.20 per share for the quarter, down from their previous forecast of $0.22. The consensus estimate for Moelis & Company’s current full-year earnings is $1.08 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.40 EPS, Q1 2025 earnings at $0.36 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.63 EPS and FY2025 earnings at $2.35 EPS.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The company had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. During the same quarter in the previous year, the business earned ($0.04) EPS. Moelis & Company’s revenue was up 47.1% compared to the same quarter last year.

Several other research firms also recently weighed in on MC. Wells Fargo & Company began coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. UBS Group boosted their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Finally, Morgan Stanley lifted their target price on Moelis & Company from $61.00 to $67.00 and gave the company an “underweight” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $61.00.

Moelis & Company Trading Up 1.9 %

Shares of MC opened at $70.96 on Monday. The firm’s 50-day moving average price is $66.09 and its 200-day moving average price is $59.89. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -373.42 and a beta of 1.33. Moelis & Company has a 1-year low of $38.58 and a 1-year high of $72.15.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, August 5th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.38%. Moelis & Company’s payout ratio is presently -1,263.16%.

Insider Activity

In other news, CFO Joseph Simon sold 6,723 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total transaction of $430,272.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Joseph Simon sold 6,723 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the sale, the director now owns 9,372 shares in the company, valued at approximately $649,385.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,526 shares of company stock valued at $830,133. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Moelis & Company

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC raised its position in Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock valued at $40,265,000 after purchasing an additional 454,478 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Moelis & Company by 4.9% in the first quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Moelis & Company during the first quarter worth approximately $5,062,000. Hsbc Holdings PLC increased its stake in Moelis & Company by 40.7% in the 2nd quarter. Hsbc Holdings PLC now owns 246,655 shares of the asset manager’s stock valued at $14,113,000 after buying an additional 71,372 shares during the period. Finally, Diversify Advisory Services LLC purchased a new position in Moelis & Company during the 1st quarter worth $3,630,000. 91.53% of the stock is currently owned by institutional investors and hedge funds.

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.