Moelis & Company to Issue Quarterly Dividend of $0.37 (NYSE:MC)

Moelis & Company (NYSE:MC) declared a quarterly dividend on Monday, July 24th, NASDAQ reports. Investors of record on Thursday, August 3rd will be given a dividend of 0.37 per share by the asset manager on Thursday, August 17th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, August 1st.

Moelis & has a payout ratio of 68.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Moelis & to earn $2.28 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 64.9%.

Moelis & (NYSE:MC) traded up 0.50% on Friday, hitting $40.05. 543,964 shares of the company were exchanged. The company has a 50 day moving average price of $39.40 and a 200-day moving average price of $37.44. The stock has a market capitalization of $1.07 billion, a P/E ratio of 17.90 and a beta of 1.87. 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 data on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.15. Moelis & had a net margin of 8.50% and a return on equity of 52.98%. The firm had revenue of $172.10 million for the quarter, compared to analysts’ expectations of $156.85 million. During the same quarter in the prior year, the business earned $0.35 EPS. The business’s quarterly revenue was up 30.7% on a year-over-year basis. On average, equities analysts expect that Moelis & will post $2.25 earnings per share for the current fiscal year.

A number of brokerages have issued reports on MC. BidaskClub lowered shares of Moelis & from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Bank of America Corporation lifted their price objective on shares of Moelis & from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. ValuEngine upgraded Moelis & from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. Keefe, Bruyette & Woods upgraded Moelis & to a “hold” rating and set a $39.00 price objective for the company in a report on Thursday, May 4th. Finally, Zacks Investment Research lowered Moelis & from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $39.22.

In related news, Chairman Kenneth Moelis sold 15,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total value of $561,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 64.47% of the stock is currently owned by corporate insiders.

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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.