Moelis & Co (NYSE:MC) announced a quarterly dividend on Monday, July 29th, NASDAQ reports. Shareholders of record on Friday, August 9th will be paid a dividend of 0.50 per share by the asset manager on Friday, September 27th. This represents a $2.00 annualized dividend and a yield of 5.99%. The ex-dividend date is Thursday, August 8th.
Moelis & Co has raised its dividend by an average of 23.4% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Moelis & Co has a payout ratio of 72.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Moelis & Co to earn $2.95 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 67.8%.
Moelis & Co stock opened at $33.40 on Tuesday. Moelis & Co has a twelve month low of $31.64 and a twelve month high of $60.35. The stock’s 50 day moving average is $34.79. The company has a quick ratio of 7.18, a current ratio of 7.18 and a debt-to-equity ratio of 0.17. The firm has a market cap of $2.06 billion, a PE ratio of 11.13 and a beta of 1.99.
A number of brokerages have commented on MC. Zacks Investment Research cut Moelis & Co from a “hold” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research note on Monday. Bank of America downgraded Moelis & Co from a “buy” rating to an “underperform” rating in a research note on Thursday, April 11th. ValuEngine upgraded Moelis & Co from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 11th. JMP Securities dropped their price target on Moelis & Co from $56.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, April 8th. Finally, Buckingham Research cut their target price on shares of Moelis & Co from $53.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $45.50.
In other news, COO Elizabeth Crain sold 31,669 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.13, for a total value of $1,017,524.97. Following the transaction, the chief operating officer now directly owns 38,638 shares of the company’s stock, valued at $1,241,438.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 19.67% of the company’s stock.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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