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

Perella Weinberg Partners (NASDAQ:PWP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.07 per share on Wednesday, December 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, December 4th.

Perella Weinberg Partners has a dividend payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Trading Up 2.3 %

Shares of PWP traded up $0.55 during mid-day trading on Friday, hitting $24.43. The company’s stock had a trading volume of 615,839 shares, compared to its average volume of 281,886. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.48 and a beta of 1.49. The company’s 50-day moving average is $20.16 and its 200-day moving average is $17.78. Perella Weinberg Partners has a 52-week low of $10.12 and a 52-week high of $25.10.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. The firm had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. Perella Weinberg Partners’s revenue was up 100.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS.

Wall Street Analyst Weigh In

PWP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, July 12th. JMP Securities increased their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

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.