Perella Weinberg Partners Announces Quarterly Dividend of $0.07 (NASDAQ:PWP)

Perella Weinberg Partners (NASDAQ:PWP) announced a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Stockholders of record on Thursday, September 5th will be paid a dividend of 0.07 per share on Monday, September 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, September 5th.

Perella Weinberg Partners has a dividend payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Trading Down 2.9 %

Shares of PWP stock traded down $0.50 during midday trading on Tuesday, reaching $16.75. 370,675 shares of the stock were exchanged, compared to its average volume of 425,547. The company’s 50 day moving average is $16.21 and its two-hundred day moving average is $14.75. The firm has a market cap of $1.58 billion, a PE ratio of -9.27 and a beta of 1.50. Perella Weinberg Partners has a 1 year low of $9.30 and a 1 year high of $19.52.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.17 by $0.26. The company had revenue of $272.00 million during the quarter, compared to analyst estimates of $179.35 million. Perella Weinberg Partners had a positive return on equity of 17.87% and a negative net margin of 7.74%. Perella Weinberg Partners’s revenue was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JMP Securities restated a “market outperform” rating and set a $22.00 target price on shares of Perella Weinberg Partners in a research report on Monday. Keefe, Bruyette & Woods increased their target price on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.