According to The Fly, investment analysts at UBS Group have dropped their recommendation for Moelis & Company (NYSE: MC), lowering it from “neutral” to “sell” in a letter that was sent to investors on Friday. The letter was sent to investors on Friday. In a report published on Friday, July 8th, they lowered their price target on Moelis & Company from $50.00 to $45.00 in a statement posted on Friday, July 8th. They gave the stock a “neutral” rating on Friday, July 8th. In addition, Piper Sandler lowered their price target on the stock from $50.00 to $45.00. Wolfe Research downgraded Moelis & Company from “peer perform” to “underperform,”
The research firm has set a target price of $42.00 for the Company’s stock. Wolfe Research also established this price objective. When trading opened on Friday at $37.04 per share, MC had a market value of $2.55 billion, a PE ratio of 7.93, and a beta of 1.29. These metrics were calculated using the stock’s previous week’s performance. Over the last 50 days, the moving averages for the Company are $43.13, and in the previous 200 days, they are $43.56.
The investment manager reported earnings per share for the quarter that were much higher than the consensus expectation of $0.41, which came in at $0.57. This result was significantly higher than the previously reported earnings of $0.41. The Company’s quarterly revenues came in at an astounding $242.52 million, a significant difference from the analysts’ projections, which were set at $199.79 million. Moelis & Company had a return on equity of 76.91 percent, and the Company’s net margin came in at 22.19%.
Moelis & Company received a new investment from First Horizon Advisors, Inc. of forty thousand dollars during the second quarter of the fiscal year. A fresh investment was made by Moelis & Company in the first three months of 2018, and HM Payson & Company made a contribution of $44,000 toward that investment. Over the first three months of the year, Covestor Ltd. boosted the percentage of Moelis & Company stock that it held by 230.3%.
Moelis & Company is an investment banking advisory firm that works with public and private multinational corporations, middle market private companies, financial sponsors, business owners, governments, and sovereign wealth funds to provide advice on mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other issues related to corporate finance. “Mergers and acquisitions” and “recapitalizations and restructurings” are two of the most common corporate reorganizations.