Overview

• Moelis Q3 adjusted revenue rises 34% yr/yr, beating analyst expectations

• Adjusted EPS for Q3 beats estimates, reflecting strong operational performance

• Company repurchased 0.2 mln shares for $14.5 mln, maintaining strong balance sheet

Outlook

• Moelis & Company did not provide specific financial guidance for future quarters

Result Drivers

• HIGHER FEES - Increase in average fees earned per completed transaction in M&A and Capital Markets drove revenue growth

• GROWTH STRATEGY - Continued execution on growth strategy with new Managing Director hires in M&A, Capital Markets, and Metals & Mining

• INCREASED EXPENSES - Higher compensation and benefits expenses due to increased headcount and higher bonus accruals

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the investment banking & brokerage services peer group is "buy."

• Wall Street's median 12-month price target for Moelis & Co is $76.00, about 6.1% above its October 28 closing price of $71.33

• The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 25 three months ago

Press Release: ID:nBw4NdhQha

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)