Greenhill & Co., Inc. (NYSE:GHL) Posts Earnings Results, Misses Estimates By $0.98 EPS

Greenhill & Co., Inc. (NYSE:GHL) issued its quarterly earnings data on Wednesday. The financial services provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.98), Briefing.com reports. The firm had revenue of $56.10 million for the quarter, compared to analysts’ expectations of $64.26 million. Greenhill & Co., Inc. had a negative net margin of 2.03% and a negative return on equity of 7.72%. The company’s revenue for the quarter was down 36.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS.

Shares of NYSE:GHL traded up $1.18 during trading on Friday, reaching $14.14. The company’s stock had a trading volume of 508,349 shares, compared to its average volume of 249,261. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 11.46. Greenhill & Co., Inc. has a 12 month low of $12.65 and a 12 month high of $33.45. The company’s 50 day moving average price is $14.35.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. Greenhill & Co., Inc.’s payout ratio is 12.42%.

Several large investors have recently made changes to their positions in GHL. LPL Financial LLC bought a new stake in Greenhill & Co., Inc. in the fourth quarter valued at $232,000. Two Sigma Advisers LP purchased a new position in Greenhill & Co., Inc. during the fourth quarter valued at $266,000. Bank of America Corp DE lifted its position in Greenhill & Co., Inc. by 28.5% during the fourth quarter. Bank of America Corp DE now owns 35,868 shares of the financial services provider’s stock valued at $875,000 after buying an additional 7,957 shares during the period. Squarepoint Ops LLC purchased a new position in Greenhill & Co., Inc. during the fourth quarter valued at $321,000. Finally, Metropolitan Life Insurance Co. NY lifted its position in Greenhill & Co., Inc. by 248.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,373 shares of the financial services provider’s stock valued at $156,000 after buying an additional 4,544 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on GHL. Buckingham Research lowered their price target on shares of Greenhill & Co., Inc. from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Zacks Investment Research downgraded shares of Greenhill & Co., Inc. from a “buy” rating to a “hold” rating in a report on Friday, July 19th. TheStreet downgraded shares of Greenhill & Co., Inc. from a “b-” rating to a “c-” rating in a report on Friday, May 31st. ValuEngine raised shares of Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods downgraded shares of Greenhill & Co., Inc. from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $23.50 to $23.00 in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.67.

Greenhill & Co., Inc. Company Profile

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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Earnings History for Greenhill & Co., Inc. (NYSE:GHL)

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