Seaport Res Ptn Has Bullish Outlook for MC FY2024 Earnings

Moelis & Company (NYSE:MC) – Investment analysts at Seaport Res Ptn upped their FY2024 EPS estimates for Moelis & Company in a note issued to investors on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will earn $1.06 per share for the year, up from their prior forecast 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 issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share.

MC has been the subject of a number of other reports. Wells Fargo & Company reduced their target price on shares of Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Tuesday. Morgan Stanley upgraded shares of Moelis & Company from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $66.00 to $92.00 in a research report on Monday, December 9th. UBS Group raised their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $71.00 to $86.00 in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and a consensus target price of $70.67.

Moelis & Company Stock Up 3.3 %

Shares of NYSE MC opened at $75.18 on Tuesday. The firm has a 50-day simple moving average of $74.80 and a 200-day simple moving average of $68.87. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 141.85 and a beta of 1.39. Moelis & Company has a 52 week low of $46.24 and a 52 week high of $81.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Moelis & Company by 0.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager’s stock valued at $408,836,000 after purchasing an additional 47,365 shares during the period. Geode Capital Management LLC boosted its stake in shares of Moelis & Company by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,590,316 shares of the asset manager’s stock valued at $108,973,000 after purchasing an additional 10,698 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Moelis & Company by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager’s stock valued at $63,229,000 after purchasing an additional 16,830 shares during the period. Natixis Advisors LLC boosted its stake in shares of Moelis & Company by 13.7% in the third quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager’s stock valued at $55,141,000 after purchasing an additional 96,720 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Moelis & Company by 7.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager’s stock valued at $56,810,000 after purchasing an additional 53,473 shares during the period. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Moelis & Company Dividend Announcement

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

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.