Moelis & Co (MC) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Moelis & Co (NYSE:MC) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $58.00 target price on the asset manager’s stock.

According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “

Other research analysts also recently issued reports about the company. Bank of America boosted their target price on Moelis & Co from $53.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, February 8th. ValuEngine upgraded Moelis & Co from a hold rating to a buy rating in a research note on Friday, February 2nd. JMP Securities boosted their target price on Moelis & Co from $44.00 to $47.00 and gave the stock a market outperform rating in a research note on Thursday, October 26th. UBS Group boosted their target price on Moelis & Co from $42.00 to $45.00 and gave the stock a neutral rating in a research note on Thursday, October 26th. Finally, Morgan Stanley boosted their target price on Moelis & Co from $49.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Moelis & Co has an average rating of Buy and an average price target of $50.67.

Moelis & Co (NYSE:MC) opened at $52.85 on Tuesday. Moelis & Co has a one year low of $34.60 and a one year high of $52.97. The firm has a market capitalization of $2,820.00, a price-to-earnings ratio of 66.06, a P/E/G ratio of 1.30 and a beta of 1.85.

Moelis & Co (NYSE:MC) last announced its earnings results on Wednesday, February 7th. The asset manager reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 17.3% on a year-over-year basis. analysts forecast that Moelis & Co will post 2.75 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, February 16th. This is an increase from Moelis & Co’s previous quarterly dividend of $0.37. Moelis & Co’s payout ratio is presently 185.00%.

A number of institutional investors have recently bought and sold shares of the business. Stifel Financial Corp grew its stake in Moelis & Co by 1.3% during the 2nd quarter. Stifel Financial Corp now owns 36,542 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 478 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Moelis & Co by 1.9% in the 2nd 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 during the period. Victory Capital Management Inc. lifted its holdings in shares of Moelis & Co by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 18,252 shares of the asset manager’s stock valued at $885,000 after buying an additional 1,106 shares during the period. Legal & General Group Plc lifted its holdings in shares of Moelis & Co by 19.2% in the 3rd quarter. Legal & General Group Plc now owns 7,662 shares of the asset manager’s stock valued at $330,000 after buying an additional 1,235 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Moelis & Co by 69.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,523 shares of the asset manager’s stock valued at $152,000 after buying an additional 1,442 shares during the period. Institutional investors and hedge funds own 56.12% of the company’s stock.

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About Moelis & Co

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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