Moelis & Co (MC) Price Target Raised to $60.00 at Morgan Stanley

Moelis & Co (NYSE:MC) had its target price lifted by Morgan Stanley from $49.00 to $60.00 in a report released on Friday. Morgan Stanley currently has an overweight rating on the asset manager’s stock.

A number of other research firms also recently commented on MC. Bank of America lifted their target price on Moelis & Co from $53.00 to $55.00 and gave the company a buy rating in a research report on Thursday, February 8th. ValuEngine upgraded Moelis & Co from a hold rating to a buy rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded Moelis & Co from a hold rating to a buy rating and set a $55.00 target price on the stock in a research report on Wednesday, December 27th. UBS Group lifted their target price on Moelis & Co from $42.00 to $45.00 and gave the company a neutral rating in a research report on Thursday, October 26th. Finally, JMP Securities lifted their target price on Moelis & Co from $44.00 to $47.00 and gave the company a market outperform rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $50.67.

Moelis & Co (MC) opened at $52.20 on Friday. Moelis & Co has a 1 year low of $34.60 and a 1 year high of $52.95. The company has a market capitalization of $2,773.85, a P/E ratio of 66.08, a P/E/G ratio of 1.30 and a beta of 1.85.

Moelis & Co (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. Moelis & Co had a return on equity of 48.98% and a net margin of 4.29%. The firm had revenue of $169.17 million for the quarter, compared to the consensus estimate of $160.22 million. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was down 17.3% compared to the same quarter last year. analysts expect that Moelis & Co will post 2.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Tuesday, February 20th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.88 dividend on an annualized basis and a yield of 3.60%. This is an increase from Moelis & Co’s previous quarterly dividend of $0.37. Moelis & Co’s payout ratio is currently 187.34%.

A number of large investors have recently bought and sold shares of MC. Schwab Charles Investment Management Inc. raised its position in Moelis & Co by 19.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 111,092 shares of the asset manager’s stock valued at $4,316,000 after purchasing an additional 18,020 shares during the period. Wells Fargo & Company MN grew its stake in shares of Moelis & Co by 34.2% in the second quarter. Wells Fargo & Company MN now owns 78,204 shares of the asset manager’s stock valued at $3,038,000 after buying an additional 19,934 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Moelis & Co by 1.9% in the second quarter. Alliancebernstein L.P. now owns 41,300 shares of the asset manager’s stock valued at $1,605,000 after buying an additional 780 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Moelis & Co by 6.4% in the second quarter. TIAA CREF Investment Management LLC now owns 136,307 shares of the asset manager’s stock valued at $5,296,000 after buying an additional 8,195 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of Moelis & Co by 12.8% in the second quarter. Nationwide Fund Advisors now owns 14,035 shares of the asset manager’s stock valued at $545,000 after buying an additional 1,598 shares in the last quarter. Institutional investors own 56.12% of the company’s stock.

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Moelis & Co Company Profile

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.

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