Greenhill & Co., Inc. (GHL) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Greenhill & Co., Inc. (NYSE:GHL) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $21.00 price target on the financial services provider’s stock.

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. “

GHL has been the topic of several other reports. Bank of America decreased their price objective on shares of 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 reiterated a hold rating and issued a $17.00 price objective on shares of Greenhill & Co., Inc. in a research report on Thursday, October 19th. Sandler O’Neill lowered shares of Greenhill & Co., Inc. from a buy rating to a hold rating and decreased their price objective for the stock from $25.00 to $18.00 in a research report on Tuesday, October 10th. Nomura decreased their price objective on shares of Greenhill & Co., Inc. from $14.00 to $13.00 and set a reduce rating on the stock in a research report on Wednesday, January 3rd. Finally, Buckingham Research boosted their price objective on shares of Greenhill & Co., Inc. from $15.00 to $18.00 and gave the stock a neutral rating in a research report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Greenhill & Co., Inc. has an average rating of Hold and a consensus target price of $15.43.

Shares of Greenhill & Co., Inc. (GHL) traded up $0.22 during midday trading on Friday, hitting $18.80. 477,101 shares of the company’s stock traded hands, compared to its average volume of 588,258. The stock has a market cap of $493.75, a price-to-earnings ratio of 26.11 and a beta of 1.32. Greenhill & Co., Inc. has a 52 week low of $13.80 and a 52 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.

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

Greenhill & Co., Inc. announced that its board has approved a stock repurchase program on Monday, September 25th that allows the company to repurchase $235.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 55.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a $0.05 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. Greenhill & Co., Inc.’s dividend payout ratio is presently 27.78%.

A number of large investors have recently added to or reduced their stakes in GHL. South Dakota Investment Council lifted its holdings in Greenhill & Co., Inc. by 149.9% in the 3rd quarter. South Dakota Investment Council now owns 601,733 shares of the financial services provider’s stock valued at $9,989,000 after purchasing an additional 360,941 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in Greenhill & Co., Inc. by 449.0% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 412,922 shares of the financial services provider’s stock valued at $8,300,000 after purchasing an additional 337,705 shares in the last quarter. FMR LLC lifted its holdings in Greenhill & Co., Inc. by 45.5% in the 2nd quarter. FMR LLC now owns 1,046,084 shares of the financial services provider’s stock valued at $21,026,000 after purchasing an additional 327,039 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Greenhill & Co., Inc. by 27.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,047,000 shares of the financial services provider’s stock valued at $21,045,000 after purchasing an additional 224,400 shares in the last quarter. Finally, Capital Management Corp VA lifted its holdings in Greenhill & Co., Inc. by 48.2% in the 3rd quarter. Capital Management Corp VA now owns 676,661 shares of the financial services provider’s stock valued at $11,233,000 after purchasing an additional 220,150 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

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Greenhill & Co., Inc. Company Profile

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.

Analyst Recommendations for Greenhill & Co., Inc. (NYSE:GHL)

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