Moelis & Company (MC) Price Target Raised to $44.00

Moelis & Company (NYSE:MC) had its price objective lifted by JMP Securities from $42.00 to $44.00 in a research note released on Tuesday, July 25th. JMP Securities currently has a market outperform rating on the asset manager’s stock.

MC has been the topic of a number of other reports. Zacks Investment Research lowered Moelis & from a hold rating to a sell rating in a report on Wednesday, April 12th. Keefe, Bruyette & Woods initiated coverage on Moelis & in a report on Friday, May 5th. They set a mkt perform rating on the stock. ValuEngine raised Moelis & from a hold rating to a buy rating in a report on Thursday, June 1st. BidaskClub raised Moelis & from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Finally, Bank of America Corporation lifted their target price on Moelis & from $43.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $39.22.

Shares of Moelis & (NYSE MC) traded down 1.28% on Tuesday, hitting $38.55. 465,145 shares of the company were exchanged. The firm has a market cap of $1.06 billion, a P/E ratio of 17.83 and a beta of 1.87. The company has a 50-day moving average price of $39.72 and a 200 day moving average price of $37.69. Moelis & has a 52-week low of $23.60 and a 52-week high of $44.85.

Moelis & (NYSE:MC) last issued its quarterly earnings results on Monday, July 24th. The asset manager reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.15. The company had revenue of $172.10 million for the quarter, compared to analyst estimates of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Analysts predict that Moelis & will post $2.25 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by BNB Daily and is the property of of BNB Daily. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/14/jmp-securities-boosts-moelis-company-mc-price-target-to-44-00-updated-updated.html.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.84%. Moelis &’s dividend payout ratio is currently 74.00%.

In related news, Chairman Kenneth Moelis sold 15,000 shares of Moelis & stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total value of $561,900.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 64.47% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of Moelis & by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 224,000 shares of the asset manager’s stock worth $7,594,000 after buying an additional 4,447 shares in the last quarter. State Street Corp boosted its position in shares of Moelis & by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock worth $11,038,000 after buying an additional 22,706 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Moelis & by 46.1% in the first quarter. Ameriprise Financial Inc. now owns 809,874 shares of the asset manager’s stock worth $31,182,000 after buying an additional 255,669 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of Moelis & during the first quarter worth $39,733,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Moelis & by 150.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after buying an additional 81,877 shares in the last quarter. 90.89% of the stock is currently owned by hedge funds and other institutional investors.

About Moelis &

Moelis & Company is an investment banking advisory company. 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. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

Analyst Recommendations for Moelis & (NYSE:MC)

Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply