Zacks Investment Research Downgrades Greenhill & Co. (GHL) to Hold
Greenhill & Co. (NYSE:GHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “GREENHILL & CO., Inc. is a leading independent investment bank that provides financial advice on significant mergers, acquisitions and restructurings; assists private funds in raising capital from investors; and manages merchant banking funds. It acts for clients located throughout the world from its offices in New York, London, Frankfurt, Toronto, Dallas and San Francisco. “
Separately, Credit Suisse Group AG restated a “hold” rating and issued a $13.00 price objective on shares of Greenhill & Co. in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.63.
Shares of Greenhill & Co. (NYSE:GHL) traded down 1.40% during midday trading on Monday, reaching $23.24. The company’s stock had a trading volume of 533,342 shares. Greenhill & Co. has a 12 month low of $15.62 and a 12 month high of $29.30. The company’s 50-day moving average price is $22.67 and its 200-day moving average price is $20.51. The company has a market cap of $688.25 million, a PE ratio of 22.70 and a beta of 1.69.
Greenhill & Co. (NYSE:GHL) last announced its earnings results on Tuesday, July 26th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.13. The business earned $90.50 million during the quarter, compared to analyst estimates of $89.61 million. Greenhill & Co. had a net margin of 11.48% and a return on equity of 11.72%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 EPS. On average, equities analysts anticipate that Greenhill & Co. will post $1.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Shareholders of record on Wednesday, September 7th were paid a $0.45 dividend. The ex-dividend date was Friday, September 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 7.75%. Greenhill & Co.’s payout ratio is presently 174.76%.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Greenhill & Co. by 0.3% in the second quarter. Vanguard Group Inc. now owns 2,068,757 shares of the company’s stock worth $33,307,000 after buying an additional 6,072 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Greenhill & Co. by 25.3% in the first quarter. JPMorgan Chase & Co. now owns 1,260,631 shares of the company’s stock worth $27,986,000 after buying an additional 254,320 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Greenhill & Co. by 36.4% in the first quarter. Renaissance Technologies LLC now owns 1,208,200 shares of the company’s stock worth $26,822,000 after buying an additional 322,300 shares during the last quarter. Skyline Asset Management LP raised its stake in shares of Greenhill & Co. by 4.0% in the first quarter. Skyline Asset Management LP now owns 1,133,700 shares of the company’s stock worth $25,168,000 after buying an additional 43,300 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Greenhill & Co. by 3.5% in the second quarter. Deprince Race & Zollo Inc. now owns 1,069,138 shares of the company’s stock worth $17,213,000 after buying an additional 36,483 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.
About Greenhill & Co.
Greenhill & Co, Inc is an investment bank. The Company provides financial and advisory services 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.
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