Greenhill & Co., Inc. (GHL) Downgraded to Strong Sell at Zacks Investment Research
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. “
A number of other equities research analysts also recently weighed in on GHL. ValuEngine upgraded Greenhill & Co., Inc. from a buy rating to a strong-buy rating in a research report on Wednesday, January 2nd. Keefe, Bruyette & Woods restated a mkt perform rating and set a $26.00 target price on shares of Greenhill & Co., Inc. in a research report on Friday, January 4th. Sandler O’Neill downgraded Greenhill & Co., Inc. from a buy rating to a hold rating in a research report on Thursday, January 31st. TheStreet upgraded Greenhill & Co., Inc. from a c rating to a b- rating in a research report on Friday, March 15th. Finally, UBS Group upgraded Greenhill & Co., Inc. from a sell rating to a neutral rating and boosted their target price for the stock from $15.00 to $22.00 in a research report on Thursday, March 21st. Three analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $24.00.
Greenhill & Co., Inc. (NYSE:GHL) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.22). The business had revenue of $89.10 million during the quarter, compared to the consensus estimate of $91.55 million. Greenhill & Co., Inc. had a net margin of 11.14% and a return on equity of 45.03%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.85) EPS. On average, equities research analysts forecast that Greenhill & Co., Inc. will post 1.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.05 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.20 dividend on an annualized basis and a yield of 0.90%. Greenhill & Co., Inc.’s dividend payout ratio is presently 12.42%.
In related news, President David Wyles sold 33,369 shares of the company’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $25.08, for a total value of $836,894.52. Following the completion of the sale, the president now owns 9,971 shares in the company, valued at $250,072.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG increased its holdings in Greenhill & Co., Inc. by 36.7% in the fourth quarter. Deutsche Bank AG now owns 98,126 shares of the financial services provider’s stock valued at $2,392,000 after purchasing an additional 26,333 shares during the last quarter. Norges Bank bought a new stake in Greenhill & Co., Inc. in the fourth quarter valued at about $6,255,000. Public Employees Retirement System of Ohio increased its holdings in Greenhill & Co., Inc. by 704.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 26,805 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 23,474 shares during the last quarter. Millennium Management LLC increased its holdings in Greenhill & Co., Inc. by 73.3% in the fourth quarter. Millennium Management LLC now owns 297,687 shares of the financial services provider’s stock valued at $7,264,000 after purchasing an additional 125,872 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Greenhill & Co., Inc. in the fourth quarter valued at about $123,000. Institutional investors and hedge funds own 87.84% of the company’s stock.
About Greenhill & Co., Inc.
Greenhill & Co, Inc, an independent investment bank, provides financial and strategic advisory services to corporations, partnerships, institutions, and governments worldwide. The company offers advisory services to clients in relation to mergers, acquisitions, divestitures, spin-offs, and other strategic transactions, as well as various stages of a transaction's life cycle ranging from initial structuring and negotiation to final execution.
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