Greenhill & Co. (NYSE:GHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research 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 reiterated a “hold” rating and issued a $13.00 price target 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 issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $27.63.
Shares of Greenhill & Co. (NYSE:GHL) opened at 23.32 on Monday. Greenhill & Co. has a one year low of $15.62 and a one year high of $29.30. The firm has a 50-day moving average of $22.72 and a 200 day moving average of $20.52. The stock has a market capitalization of $690.62 million, a price-to-earnings ratio of 22.77 and a beta of 1.69.
Greenhill & Co. (NYSE:GHL) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.49 by $0.13. The business had revenue of $90.50 million for the quarter, compared to analysts’ expectations of $89.61 million. Greenhill & Co. had a net margin of 11.48% and a return on equity of 11.72%. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. On average, equities research analysts predict that Greenhill & Co. will post $1.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th were issued a $0.45 dividend. The ex-dividend date was Friday, September 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.72%. Greenhill & Co.’s dividend payout ratio (DPR) is presently 174.76%.
Several hedge funds have recently bought and sold shares of GHL. Skyline Asset Management LP increased its position 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 valued at $25,168,000 after buying an additional 43,300 shares during the last quarter. Renaissance Technologies LLC increased its position 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 valued at $26,822,000 after buying an additional 322,300 shares during the last quarter. Nisa Investment Advisors L.L.C. purchased a new position in shares of Greenhill & Co. during the first quarter valued at approximately $311,000. Fisher Asset Management LLC increased its position in shares of Greenhill & Co. by 0.4% in the second quarter. Fisher Asset Management LLC now owns 632,644 shares of the company’s stock valued at $11,135,000 after buying an additional 2,425 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Greenhill & Co. by 4.4% in the first quarter. Prudential Financial Inc. now owns 66,531 shares of the company’s stock valued at $1,477,000 after buying an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors 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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