Moelis & Company (NYSE:MC) Announces Earnings Results, Beats Expectations By $0.79 EPS

Moelis & Company (NYSE:MC) posted its earnings results on Wednesday. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.79, Zacks reports. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%.

Moelis & Company Stock Performance

Shares of NYSE MC traded up $2.34 during trading hours on Wednesday, hitting $79.95. The company’s stock had a trading volume of 1,307,010 shares, compared to its average volume of 716,166. Moelis & Company has a 12 month low of $46.24 and a 12 month high of $81.60. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 150.84 and a beta of 1.40. The business has a 50-day simple moving average of $75.32 and a 200-day simple moving average of $70.61.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MC shares. Wells Fargo & Company reduced their target price on Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised shares of Moelis & Company from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $71.00 to $86.00 in a research note on Friday, December 20th. Finally, UBS Group raised their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Moelis & Company presently has an average rating of “Hold” and a consensus target price of $70.67.

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.