Sneak Preview of Moelis & Company ($MC) 3Q20 Earnings

Moelis & Company (NYSE:MC) is set to announce third quarter earning results on Monday 26th October 2020, after market close.

Analysts surveyed by Thomson Reuters are predicting, MC to report 3Q20 income of $ 0.03 per share.

For the full year, analysts anticipate top line of $ 637.97 million, while looking forward to income of $ 0.64 per share bottom line.

Previous Quarter Performance

Moelis & Company revealed loss for the second quarter of $ 0.11 per share, from the revenue of $ 159.94 million. Street analysts expected Moelis & Company to report loss of $ 0.14 per share on revenue of $ 144.25 million for the second quarter. The bottom line results beat street analysts by $ 0.03 or 21.43 percent, at the same time, top line results outshined analysts by $ 15.69 million or 10.88 percent.

Stock Performance

On Friday, shares of Moelis & Company has traded high as $ 39.18 and has cracked $ 38.41 on the downward trend, reaching $ 39.03 with volume of 395.20 thousand shares.

According to the previous trading day, closing price of $ 39.03, representing a 74.31 % increase from the 52 week low of $ 22.11 and a 6.61 % decrease over the 52 week high of $ 41.27.

The company has a market capital of $ 2.16 billion and is part of the Financial Services sector and Capital Markets industry.

Recent Analyst recommendations

  • On 12th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 41.00 target price.
  • On 9th October 2020, maintained by JMP Securities at Market Outperform rating, with $ 42.00 target price.
  • On 9th October 2020, downgraded by Keefe, Bruyette & Woods to Market Perform from Outperform rating.

Recent Stock Dividend Announcement

On July 29, 2020, the board of directors authorized quarterly dividend of $ 0.255 per share to holders of record as of the close of business on August 10, 2020, with payment date of September 30, 2020 and ex-dividend date on August 7, 2020.

Conference Call

Moelis & Company will be hosting a conference call at 5:00 PM eastern time on 26th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website

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.