Moelis & Co (MC) was Downgraded by Sandler O’Neill to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Sandler O’Neill advised their investors in a research report released on Oct 13, 2016.
On the company’s financial health, Moelis & Co reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.29. The company had revenue of $131.73 million for the quarter, compared to analysts expectations of $121.54 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.
Moelis & Co closed down -0.5 points or -1.94% at $25.3 with 93,580 shares getting traded on Tuesday. Post opening the session at $25.65, the shares hit an intraday low of $25.25 and an intraday high of $25.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
Moelis & Company is an investment bank that provides strategic and financial advice to a client base including corporations Governments and financial sponsors. The Company assists its clients in achieving their strategic goals by offering financial advisory services across all industry sectors. It advices its clients on decisions including mergers and acquisitions (M&A) recapitalizations and restructurings and other corporate finance matters. With 17 offices located in North and South America Europe the Middle East Asia and Australia the Company provides information flow and cross-border capabilities. The Company offers advisory services in all industries including consumer retail and restaurants; financial institutions; financial sponsors; general industrials; healthcare; natural resources; real estate gaming lodging and leisure and technology media and telecommunications. It advises clients on all aspects of public and private debt and equity transactions.