Moelis & Company (NYSE:MC ) Q3 2024 Results Conference Call October 24, 2024 5:00 PM ET Company Participants Matt Tsukroff - Investor Relations Kenneth Moelis - Chairman and Chief Executive Officer Joseph Simon - Chief Financial Officer Conference Call Participants James Yaro - Goldman Sachs Ryan Kenny - Morgan Stanley Aidan Hall - KBW Mike Brown - Wells Fargo Securities Brendan O'Brien - Wolfe...
NEW YORK--(BUSINESS WIRE)-- #investmentbanking--Moelis & Company reports third quarter and first nine months 2024 financial results; declares regular quarterly dividend of $0.60 per share.
Moelis had a strong quarter, driven by capital markets and restructuring. We are a bit concerned about the sustainability of ECM and DCM activities. The firm is heavily reliant on a sponsor market recovery which still is facing challenges. We think market multiples reflect that a lot is riding on the sponsor recovery for Moelis, something we'd prefer not to bet on right now.
After years of dominance by the largest tech companies in the U.S. stock market, interest is spreading to overlooked companies that might be a better value for investors looking to diversify, lower their risk or do some bargain shopping.
NEW YORK--(BUSINESS WIRE)-- #Moelis--Moelis & Company to Announce Second Quarter 2024 Financial Results and Host a Conference Call on July 24, 2024.
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