Brokerages Set Moelis & Company (NYSE:MC) Target Price at $60.83

Moelis & Company (NYSE:MC) has received an average rating of “Reduce” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $60.83.

Several equities analysts recently weighed in on MC shares. UBS Group increased their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Morgan Stanley cut their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Finally, Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company.

Moelis & Company Price Performance

NYSE MC opened at $76.88 on Friday. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 146.42 and a beta of 1.33. The stock’s fifty day moving average price is $70.65 and its 200 day moving average price is $63.89. Moelis & Company has a 1 year low of $44.53 and a 1 year high of $81.60.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The business had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter in the previous year, the business earned ($0.15) EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts expect that Moelis & Company will post 0.96 earnings per share for the current year.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio is currently 452.83%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. purchased a new stake in shares of Moelis & Company in the third quarter valued at approximately $49,017,000. Natixis Advisors LLC increased its holdings in Moelis & Company by 179.2% in the 2nd quarter. Natixis Advisors LLC now owns 708,140 shares of the asset manager’s stock worth $40,265,000 after acquiring an additional 454,478 shares in the last quarter. Pier Capital LLC acquired a new position in Moelis & Company during the third quarter worth $8,152,000. Jacobs Levy Equity Management Inc. purchased a new position in Moelis & Company during the third quarter valued at $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Moelis & Company by 322.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 98,000 shares of the asset manager’s stock valued at $6,714,000 after purchasing an additional 74,800 shares during the period. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.