Greenhill & Co., Inc. (GHL) Price Target Lowered to $13.00 at Nomura

Greenhill & Co., Inc. (NYSE:GHL) had its price target dropped by Nomura from $14.00 to $13.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “reduce” rating on the financial services provider’s stock. Nomura’s price target points to a potential downside of 34.51% from the company’s current price.

A number of other research firms also recently issued reports on GHL. Zacks Investment Research raised Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 21st. ValuEngine raised Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Bank of America dropped their price target on Greenhill & Co., Inc. from $13.00 to $12.00 and set an “underperform” rating on the stock in a research report on Thursday, October 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $17.00 price target on shares of Greenhill & Co., Inc. in a research report on Thursday, October 19th. Finally, Sandler O’Neill downgraded Greenhill & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $18.00 in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Greenhill & Co., Inc. has a consensus rating of “Hold” and a consensus target price of $17.33.

Greenhill & Co., Inc. (GHL) traded up $0.35 on Wednesday, hitting $19.85. The stock had a trading volume of 649,600 shares, compared to its average volume of 503,600. Greenhill & Co., Inc. has a fifty-two week low of $13.80 and a fifty-two week high of $32.45. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 0.32. The company has a market cap of $512.14, a P/E ratio of 26.82 and a beta of 1.32.

Greenhill & Co., Inc. (NYSE:GHL) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.25). Greenhill & Co., Inc. had a return on equity of 8.88% and a net margin of 8.49%. The firm had revenue of $48.09 million for the quarter, compared to the consensus estimate of $38.33 million. During the same period in the previous year, the company posted $0.41 EPS. Greenhill & Co., Inc.’s quarterly revenue was down 37.2% compared to the same quarter last year. equities analysts forecast that Greenhill & Co., Inc. will post -0.41 EPS for the current fiscal year.

Greenhill & Co., Inc. announced that its Board of Directors has authorized a share repurchase plan on Monday, September 25th that authorizes the company to buyback $235.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 55.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently modified their holdings of the stock. South Dakota Investment Council raised its stake in shares of Greenhill & Co., Inc. by 149.9% in the third quarter. South Dakota Investment Council now owns 601,733 shares of the financial services provider’s stock worth $9,989,000 after purchasing an additional 360,941 shares during the last quarter. Brandywine Global Investment Management LLC raised its position in Greenhill & Co., Inc. by 449.0% during the second quarter. Brandywine Global Investment Management LLC now owns 412,922 shares of the financial services provider’s stock valued at $8,300,000 after acquiring an additional 337,705 shares in the last quarter. FMR LLC raised its position in Greenhill & Co., Inc. by 45.5% during the second quarter. FMR LLC now owns 1,046,084 shares of the financial services provider’s stock valued at $21,026,000 after acquiring an additional 327,039 shares in the last quarter. Renaissance Technologies LLC raised its position in Greenhill & Co., Inc. by 27.3% during the second quarter. Renaissance Technologies LLC now owns 1,047,000 shares of the financial services provider’s stock valued at $21,045,000 after acquiring an additional 224,400 shares in the last quarter. Finally, Capital Management Corp VA raised its position in Greenhill & Co., Inc. by 48.2% during the third quarter. Capital Management Corp VA now owns 676,661 shares of the financial services provider’s stock valued at $11,233,000 after acquiring an additional 220,150 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

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About Greenhill & Co., Inc.

Greenhill & Co, Inc is an investment bank. The Company provides financial and strategic advice on domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to a diverse client base, including corporations, partnerships, institutions and governments globally.

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