Moelis & Company (MC) To Go Ex-Dividend on May 3rd

Moelis & Company (NYSE:MC) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be given a dividend of 0.60 per share by the asset manager on Thursday, June 20th. This represents a $2.40 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, May 3rd.

Moelis & Company has increased its dividend by an average of 19.6% per year over the last three years. Moelis & Company has a payout ratio of 92.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Moelis & Company to earn $2.83 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 84.8%.

Moelis & Company Price Performance

NYSE:MC opened at $50.02 on Friday. Moelis & Company has a 12-month low of $33.87 and a 12-month high of $58.67. The firm has a market capitalization of $3.56 billion, a P/E ratio of -264.53 and a beta of 1.35. The business has a 50 day simple moving average of $54.19 and a 200 day simple moving average of $51.50.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. The company had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts anticipate that Moelis & Company will post 1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MC. JPMorgan Chase & Co. boosted their price objective on Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 target price (down from $58.00) on shares of Moelis & Company in a research report on Thursday. The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $53.00 to $58.00 in a research report on Wednesday, March 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.80.

Insider Transactions at Moelis & Company

In related news, General Counsel Osamu R. Watanabe sold 7,685 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $404,231.00. Following the completion of the transaction, the general counsel now owns 6,000 shares of the company’s stock, valued at approximately $315,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Osamu R. Watanabe sold 7,685 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $404,231.00. Following the completion of the transaction, the general counsel now owns 6,000 shares of the company’s stock, valued at approximately $315,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 375,185 shares of company stock worth $20,130,225. 6.96% of the stock is owned by corporate insiders.

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.