Moelis & Co. (NYSE:MC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
A number of other brokerages also recently commented on MC. Morgan Stanley reissued a “buy” rating on shares of Moelis & Co. in a research report on Tuesday, June 7th. Credit Suisse Group AG reissued a “hold” rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Moelis & Co. presently has an average rating of “Buy” and a consensus price target of $31.00.
Moelis & Co. (NYSE:MC) traded up 1.34% during trading on Wednesday, reaching $26.41. 57,036 shares of the company’s stock were exchanged. The stock has a market capitalization of $544.02 million, a PE ratio of 15.73 and a beta of 1.73. The stock has a 50-day moving average of $26.37 and a 200-day moving average of $26.29. Moelis & Co. has a 52 week low of $21.91 and a 52 week high of $31.84.
Moelis & Co. (NYSE:MC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The business earned $131.70 million during the quarter, compared to the consensus estimate of $131.44 million. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Moelis & Co. will post $1.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.54%. The ex-dividend date was Thursday, August 18th. Moelis & Co.’s payout ratio is currently 81.53%.
Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock valued at $100,000 after buying an additional 1,630 shares during the period. BlackRock Advisors LLC boosted its stake in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock valued at $213,000 after buying an additional 920 shares during the period. Emerald Acquisition Ltd. bought a new stake in Moelis & Co. during the second quarter valued at approximately $222,000. American International Group Inc. boosted its stake in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock valued at $241,000 after buying an additional 396 shares during the period. Finally, Clinton Group Inc. bought a new stake in Moelis & Co. during the second quarter valued at approximately $246,000. 84.45% of the stock is owned by institutional investors and hedge funds.
Moelis & Co. Company Profile
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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