Q3 2024 EPS Estimates for Moelis & Company Reduced by Seaport Res Ptn (NYSE:MC)

Moelis & Company (NYSE:MC) – Investment analysts at Seaport Res Ptn cut their Q3 2024 earnings per share (EPS) estimates for shares of Moelis & Company in a report issued on Wednesday, October 9th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings of $0.20 per share for the quarter, down from their prior estimate 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.

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

Moelis & Company Stock Performance

Shares of MC stock opened at $68.98 on Monday. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $71.34. The stock has a fifty day moving average of $65.89 and a two-hundred day moving average of $59.79. The firm has a market capitalization of $5.16 billion, a PE ratio of -363.05 and a beta of 1.33.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. During the same period in the prior year, the business earned ($0.04) EPS. The firm’s revenue was up 47.1% on a year-over-year basis.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, August 5th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.48%. Moelis & Company’s payout ratio is -1,263.16%.

Insider Activity at Moelis & Company

In related news, CFO Joseph Simon sold 6,723 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares in the company, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Simon sold 6,723 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $64.00, for a total value of $430,272.00. The disclosure for this sale can be found here. Insiders sold a total of 12,526 shares of company stock worth $830,133 in the last 90 days. 6.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Moelis & Company

A number of hedge funds have recently modified their holdings of MC. UMB Bank n.a. raised its holdings in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager’s stock worth $28,000 after buying an additional 193 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Moelis & Company by 147.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after buying an additional 392 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Moelis & Company by 510.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after buying an additional 699 shares in the last quarter. GAMMA Investing LLC increased its holdings in Moelis & Company by 115.8% during the 3rd quarter. GAMMA Investing LLC now owns 995 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 534 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Moelis & Company during the 2nd quarter valued at $113,000. 91.53% of the stock is 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.