Seaport Res Ptn Has Bullish Outlook for MC FY2024 Earnings

Moelis & Company (NYSE:MC) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings estimates for shares of Moelis & Company in a research note issued on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings of $1.06 per share for the year, up from their prior estimate of $1.02. The consensus estimate for Moelis & Company’s current full-year earnings is $0.96 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.44 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.68 EPS and Q4 2025 earnings at $0.90 EPS.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The business had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. During the same quarter last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. UBS Group raised their target price 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. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $71.00 to $86.00 in a research report on Friday, December 20th. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $92.00 in a report on Monday, December 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $70.67.

Moelis & Company Stock Up 3.3 %

NYSE:MC opened at $75.18 on Tuesday. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $81.60. The company’s 50 day moving average price is $74.80 and its 200-day moving average price is $68.87. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 141.85 and a beta of 1.39.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. Moelis & Company’s dividend payout ratio (DPR) is presently 452.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MC. Choreo LLC acquired a new position in Moelis & Company during the 2nd quarter valued at approximately $259,000. Headlands Technologies LLC acquired a new position in Moelis & Company during the 2nd quarter valued at approximately $113,000. Oppenheimer Asset Management Inc. increased its stake in Moelis & Company by 49.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 51,275 shares of the asset manager’s stock valued at $2,915,000 after purchasing an additional 16,965 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Moelis & Company by 27.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 293,529 shares of the asset manager’s stock valued at $16,690,000 after purchasing an additional 62,444 shares in the last quarter. Finally, Argent Trust Co boosted its holdings in shares of Moelis & Company by 8.7% in the 2nd quarter. Argent Trust Co now owns 7,145 shares of the asset manager’s stock valued at $406,000 after acquiring an additional 570 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Company Profile

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.