Todays Report: The Moelis & Co. (MC) Upgraded by Zacks Investment Research to Buy

The Moelis & Co. (MC) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Moelis & Co. (NYSE:MC) from a hold rating to a buy rating in a report issued on Tuesday morning. They currently have $29.00 price objective on the 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. “

Several other brokerages also recently issued reports on MC. Credit Suisse Group AG reissued a hold rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. Morgan Stanley reissued a buy rating on shares of Moelis & Co. in a research report on Tuesday, June 7th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Moelis & Co. presently has a consensus rating of Buy and a consensus target price of $31.00.

Moelis & Co. (NYSE:MC) opened at 26.06 on Tuesday. Moelis & Co. has a 12-month low of $21.91 and a 12-month high of $31.84. The firm has a 50-day moving average of $26.37 and a 200 day moving average of $26.28. The stock has a market capitalization of $536.81 million, a price-to-earnings ratio of 15.52 and a beta of 1.73.

Moelis & Co. (NYSE:MC) last posted its earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. The firm had revenue of $131.70 million for the quarter, compared to the consensus estimate of $131.44 million. Moelis & Co. had a net margin of 6.01% and a return on equity of 35.37%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. On average, analysts predict that Moelis & Co. will post $1.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Thursday, August 18th. Moelis & Co.’s dividend payout ratio (DPR) is 81.53%.

Several hedge funds have recently made changes to their positions in MC. Royce & Associates LP boosted its stake in shares of Moelis & Co. by 9.8% in the second quarter. Royce & Associates LP now owns 2,015,571 shares of the company’s stock valued at $45,350,000 after buying an additional 179,115 shares during the period. Vanguard Group Inc. boosted its stake in shares of Moelis & Co. by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,341,785 shares of the company’s stock valued at $30,190,000 after buying an additional 61,042 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Moelis & Co. by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 1,175,914 shares of the company’s stock valued at $26,458,000 after buying an additional 99,629 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Moelis & Co. by 0.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,052,774 shares of the company’s stock valued at $23,687,000 after buying an additional 6,268 shares during the period. Finally, BlackRock Fund Advisors boosted its stake in shares of Moelis & Co. by 2.7% in the second quarter. BlackRock Fund Advisors now owns 493,953 shares of the company’s stock valued at $11,114,000 after buying an additional 13,098 shares during the period. Hedge funds and other institutional investors own 84.45% of the company’s stock.

About Moelis & Co.

Moelis & Company is an investment banking advisory firm. 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. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.

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