MarketBeat | Real-Time Financial News and Analysis

Open Main Menu Open Sidebar

Oppenheimer Company Profile (NYSE:OPY)

Consensus Ratings for Oppenheimer (NYSE:OPY) (?)
Ratings Breakdown: 2 Buy Rating(s)
Consensus Rating:Buy (Score: 3.00)
Consensus Price Target: $21.50 (37.73% upside)

Analysts' Ratings History for Oppenheimer (NYSE:OPY)
Show:
DateFirmActionRatingPrice TargetActions
3/21/2016SidotiInitiated CoverageBuy$22.00View Rating Details  Tweet This Rating  Share This Rating on StockTwits
2/1/2016MacquarieLower Price TargetOutperform$23.00 -> $21.00View Rating Details  Tweet This Rating  Share This Rating on StockTwits
(Data available from 6/26/2014 forward)
Earnings History for Oppenheimer (NYSE:OPY)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallActions
7/29/2016        
4/29/2016Q1($0.03)($0.29)$225.30 million$218.70 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
1/29/2016Q4($0.23)$254.90 million$200.40 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
10/30/2015Q3$0.04($0.07)$244.70 million$213.50 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
7/31/2015Q2$0.33$0.02$239.70 million$238.90 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
5/1/2015Q115$0.30$0.42$255.20 million$245.60 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
1/30/2015Q414$0.36$0.19$293.40 million$254.90 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
1/31/2014Q4$0.94ViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
10/25/2013Q313$0.37$231.84 million$243.38 millionViewN/AView Earnings Details  Tweet This Announcement  Share This Announcement on StockTwits
(Data available from 1/1/2011 forward)
Earnings Estimates for Oppenheimer (NYSE:OPY)
No earnings estimates for this company have been tracked by MarketBeat.com

Current Dividend Information for Oppenheimer (NYSE:OPY)
Annual Dividend:$0.44
Dividend Yield:2.82%
Payout Ratio:Infinity
Dividend Growth:0.00% (3 Year Average)

Dividend History for Oppenheimer (NYSE:OPY)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable DateShare
5/2/2016quarterly$0.112.86%5/11/20165/13/20165/27/2016Tweet This Announcement  Share This Announcement on StockTwits
2/1/2016quarterly$0.112.94%2/10/20162/12/20162/26/2016Tweet This Announcement  Share This Announcement on StockTwits
11/2/2015quarterly$0.112.45%11/10/201511/13/201511/27/2015Tweet This Announcement  Share This Announcement on StockTwits
8/3/2015quarterly$0.111.98%8/12/20158/14/20158/28/2015Tweet This Announcement  Share This Announcement on StockTwits
5/4/2015quarterly$0.111.82%5/13/20155/15/20155/29/2015Tweet This Announcement  Share This Announcement on StockTwits
2/2/2015quarterly$0.112.18%2/11/20152/13/20152/27/2015Tweet This Announcement  Share This Announcement on StockTwits
10/31/2014quarterly$0.111.82%11/12/201411/14/201411/28/2014Tweet This Announcement  Share This Announcement on StockTwits
8/5/2014quarterly$0.112.01%8/13/20148/15/20148/29/2014Tweet This Announcement  Share This Announcement on StockTwits
5/1/2014quarterly$0.111.71%5/13/20145/15/20145/27/2014Tweet This Announcement  Share This Announcement on StockTwits
1/31/2014quarterly$0.111.91%2/12/20142/14/20142/28/2014Tweet This Announcement  Share This Announcement on StockTwits
10/25/2013quarterly$0.112.24%11/6/201311/8/201311/22/2013Tweet This Announcement  Share This Announcement on StockTwits
7/29/2013quarterly$0.112.31%8/7/20138/9/20138/23/2013Tweet This Announcement  Share This Announcement on StockTwits
4/29/2013quarterly$0.112.4%5/8/20135/10/20135/24/2013Tweet This Announcement  Share This Announcement on StockTwits
1/25/2013quarterly$0.112.59%2/6/20132/8/20132/22/2013Tweet This Announcement  Share This Announcement on StockTwits
(Data available from 1/1/2013 forward)
Insider Trading History for Oppenheimer (NYSE:OPY)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionActions
5/19/2016Timothy Martin DwyerDirectorBuy1,000$13.74$13,740.00View SEC Filing  Tweet This Trade  Share This Trade on StockTwits
5/13/2016Timothy Martin DwyerDirectorBuy3,000$13.85$41,550.00View SEC Filing  Tweet This Trade  Share This Trade on StockTwits
(Data available from 1/1/2013 forward)
Latest Headlines for Oppenheimer (NYSE:OPY)
DateHeadline
06/23/16 06:14 PMOppenheimer USA : & Co. Inc. Launches 2016 Summer Internship And Trainee Programs To Support Talent Development
06/23/16 08:02 AMOPPENHEIMER HOLDINGS INC Files SEC form 8-K, Completion of Acquisition or Disposition of Assets, Financial Statements -
06/22/16 05:34 PMOppenheimer USA : Private Client Division Announces Key Strategic Leadership Changes
06/22/16 04:39 PMOppenheimer Holdings Inc. Reports Completion Of The Sale Of Its $3.8 Billion Mortgage Servicing Portfolio - [at noodls] - 16-PRS-10 Oppenheimer Holdings Announcement June 22 2016.indd NYSE: OPY Press Release OPPPPEENNHHEEIIMMEERR HHOOLLDDIINNGGSS IINNCC.. RREEPPOORTS COOMMPPLLETTIIOON OOF TTHHE SSAALLE OF IITTS $$33..88 BBIILLLLIIOON ...
06/22/16 04:39 PMPrivate Client Division Announces Key Strategic Leadership Changes - [at noodls] - 16-PRS-08 New Leadership_Fritzlen Successors 06-21-16.indd Press Release OPPENHEIMER & CO. INC. MAKES KEY STRATEGIC LEADERSHIP CHANGES IN PRIVATE CLIENT DIVISION New York, NY - June 21, 2016 - Oppenheimer ...
06/22/16 04:20 PMTesla Dives Most In 2 Years As Shareholders Revolt Over SolarCity 'Bailout' - [at Investor's Business Daily] - Early reports on the Tesla Motors (TSLA) bid for SolarCity (SCTY) hit a negative tone, calling the deal a fundamental change to Tesla's business model that could thwart its aggressive efforts to expand ...
06/22/16 03:56 PMTesla (TSLA) Stock Closed Sharply Lower After SolarCity Bid, Downgrade -
06/21/16 09:00 AMOppenheimer & Co. Inc. Makes Key Strategic Leadership Changes In Private Client Division - [PR Newswire] - NEW YORK, June 21, 2016 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") today announced the retirement of Senior Vice President Tom Fritzlen after more than three decades at the firm and the appointment of Jim Lowe as Fritzlen's successor. In addition to these changes, Mark Trafford and Todd Wiggins have been named branch managers of Oppenheimer's Seattle and Atlanta branches, respectively. "Tom served Oppenheimer for 31 years, always upholding the values and ethics that we strive for as a firm," said Bud Lowenthal, Chairman and CEO of Oppenheimer.
06/16/16 09:53 AMOppenheimer & Co. Inc. : Launches 2016 Summer Internship And Trainee Programs To Support Talent Development
06/16/16 09:00 AMOppenheimer & Co. Inc. Launches 2016 Summer Internship And Trainee Programs To Support Talent Development - [PR Newswire] - NEW YORK, June 16, 2016 /PRNewswire/ -- Oppenheimer & Co. Inc. (Oppenheimer) is pleased to announce the launch of its 2016 Summer Internship Program. Now in its twelfth year, the program consistently attracts exceptional students from leading universities from many different states. This year, Oppenheimer received more than 1,500 applications for 60 placements throughout its New York City headquarters and other branch office network. Throughout the 8-to-10-week internship program, students train with experienced staff who help develop skills and interests beyond college. Interns have the opportunity to learn firsthand about the firm during weekly seminars at Oppenheimer's 85 Broad Street corporate headquarters and to receive in-depth training in one practice area, all while gaining exposure to several areas of the firm outside of their core department.
06/15/16 02:21 PMA First Look Into E3 '16: 'Publishers Emerging As Winners' - Oppenheimer said "publishers are emerging as winners" at this year's Electronic Entertainment Expo (E3). It's day 3 of the event, and the research firm has come out with a note stating the strategy of Microsoft Corporation (NASDAQ: MSFT) to make Xbox Live a social platform and offering game play across PC and console is good for the industry. "We see this move as a way to lower barriers for gamers and to make it easier for them to have a customized experience," analyst Andrew Uerkwitz wrote in a note. The analyst highlighted that Microsoft, for the first time, announced two new consoles: the Slim and Project Scorpio. Related Link: Activision ...Full story available on Benzinga.com
06/14/16 10:29 AMSupreme Court Strikes Down Puerto Rico Debt-Restructuring Law -- Update
06/12/16 02:54 PMOppenheimer Raises Target On Visa By $5 To $90, Cites Closing Of Visa Europe Purchase - In a recent report, analysts at Oppenheimer updated their estimates for Visa Inc (NYSE: V), seeking to reflect the impending close of the acquisition of Visa Europe — which the firm anticipates will be announced before the end of June. Last Friday, the payments technology company said that the European Commission had approved the deal — after the firms involved amended their contract to eliminate the earn-out portion of the consideration, allowing the transaction ...Full story available on Benzinga.com
06/10/16 06:31 AMQuick Guide to Oppenheimer Main Street A Fund (MSIGX) -
06/09/16 11:22 AMThe Securities Arbitration Law Firm of Klayman & Toskes¸ P.A. Commences an Investigation into Oppenheimer’s Sales Practices Regarding Inverse and Inverse-Leveraged ETFs in Light of the $2.25 Million Fine Levied Against Oppenheimer by FINRA - [Business Wire] - The Securities Arbitration Law Firm of Klayman & Toskes, P.A. , www.nasd-law.com, announced today that it has commenced a comprehensive investigation into Oppenheimer’s sales practices regarding inverse and inverse-leveraged ETFs that were unsuitable for clients in light of the $3 million fine levied against Oppenheimer by FINRA.
06/08/16 06:03 PMMid-Day ETF Update: ETFs, Stocks Still Higher Even As Crude Prices Trim Gains Following Inventory Data
06/08/16 06:03 PMOppenheimer & Co. Inc. Expands Team And Technology Commitment To Support Advisor Talent
06/08/16 06:03 PMOppenheimer to pay nearly $3 million for improper ETF sales: regulator
06/08/16 02:01 PMHewlett Packard Enterprise Analyst Day: What Are Oppenheimer's 4 Key Takeaways? - Oppenheimer maintains its Outperform rating and $21 price target on Hewlett Packard Enterprise Co (NYSE: HPE) following the company's investor event. "We come away more confident in the company's execution and focus and remain convinced in its ability to continue to drive better results out of its remaining businesses," analyst Ittai Kidron wrote in a note. The analyst said the spinoff of Enterprise Services should allow more focus and transparency to surface, while continued R&D investment should provide more Enterprise Group opportunities for continued growth. Key Takeaways Below are Kidron's key takeaways from the event: 1. "Enterprise Group margins should rise from current levels as product mix and productivity improve and more cost cutting is applied. 2. "Long-term total revenue growth should track global GDP patterns. 3. "Software is likely ...Full story available on Benzinga.com
06/07/16 03:00 PMAnalysts: Amazon Web Services Gives Stock Nearly 30% Upside - [at TheStreet] - Amazon's market leadership in cloud services is even more valuable than some analysts had previously estimated.
06/07/16 09:52 AMAmazon shares will surge 28% to $930 as web services unit dominates: Oppenheimer - Oppenheimer reiterated an outperform rating on Amazon and raised the price target to $930 from $780.
06/07/16 08:24 AMETF Preview: ETFs, Futures Higher as Revised Q1 Productivity Show Narrower Decline Than Initially Reported
06/07/16 08:24 AMWalker & Dunlop (WD) Enters Agreement to Acquire Large Oppenheimer HUD Servicing Portfolio
06/07/16 08:24 AMWalker & Dunlop To Buy $3.8 Bln HUD Servicing Portfolio
06/07/16 05:30 AMWalker & Dunlop to Acquire $3.8 Billion HUD Servicing Portfolio - [PR Newswire] - BETHESDA, Md., June 7, 2016 /PRNewswire/ -- Walker & Dunlop, Inc. (WD) (the "Company") announced today that it has agreed to purchase the commercial mortgage servicing rights associated with a $3.8 billion servicing portfolio from Oppenheimer Multifamily Housing & Healthcare Finance, Inc. a subsidiary of Oppenheimer Holdings Inc. (OPY). The portfolio is comprised of over 480 multifamily and healthcare loans insured by the U.S. Department of Housing and Urban Development (HUD). The acquisition is expected to close on June 20, 2016 making Walker & Dunlop the largest HUD Multifamily/Healthcare servicer in the U.S. The Company will be using available capital to fund the approximately $45 million purchase price.
06/07/16 01:45 AMThe Tell: Buy these stocks that are breaking out — forget the S&P’s failure to launch - It’s frustrating for traders waiting for a breakout by the S&P 500. What if you just can’t wait? An Oppenheimer technical analyst says buy these eight stocks and one ETF that already have broken out to new highs.
06/06/16 05:36 PMEmployee faces insider trading charges
06/06/16 03:33 PMOPPENHEIMER HOLDINGS INC Files SEC form 8-K, Entry into a Material Definitive Agreement -
06/02/16 02:54 PMOPEC is finished: Oppenheimer's Fadel Gheit - OPEC is a dysfunctional organization that has outlived its usefulness, Oppenheimer's Fadel Gheit said Thursday.
05/25/16 02:19 PMOppenheimer Remains Positive On HP Enterprise Following Earnings, Deal With CSC - Oppenheimer maintains its Outperform rating on Hewlett Packard Enterprise Co (NYSE: HPE) following solid quarterly results and its deal with Computer Sciences Corporation (NYSE: CSC). Earnings Numbers Hewlett Packard reported solid second-quarter results, posting year-over-year growth for the first time since 2011. In addition, it announced its plan to spin off of its low-margin enterprise services (ES) segment and its subsequent merger with Computer Sciences. Hewlett Packard reported revenue/EPS of $12.71 billion/$0.42 versus consensus estimate of $12.34 billion/$0.42. The results showed positive growth across all three hardware segments (servers, storage and networking) and geographies despite the challenges reported by its peers. All the three hardware segments posted growth of 6.9 percent, 1.6 percent and 57.2 percent, respectively. Related Link: Deutsche Bank On Computer Sciences-HP Enterprise Merger However, software continued its downturn, with revenue dropping 13.2 percent and enterprise ...Full story available on Benzinga.com
05/25/16 09:06 AMA 'What's Next?' Scenario for the Delayed Sarepta Duchenne Drug Review - TheStreet.com - TheStreet.comA 'What's Next?' Scenario for the Delayed Sarepta Duchenne Drug ReviewTheStreet.comIf you take the easy approve/reject eteplirsen options off the table (and the delay certainly indicates FDA can't make up its mind) then a compromise decision is a possibility. Adam Feuerstein. Follow. May 25, 2016 9:38 AM EDT. Get TheStreet Quant ...Sarepta: FDA's Decision on Dystrophy Drug DelayedWall Street JournalSarepta Surges After U.S. Regulators Delay Ruling on DMD DrugBloombergOppenheimer Doesn't See Significant Sarepta (SRPT) FDA Delay Before ApprovalStreetInsider.comNew York Times -Xconomy -Reuters -CNBCall 55 news articles »
05/24/16 09:41 AMMASS Communications Deploys Dedicated Private Networking Solution for Oppenheimer & Co. - ABOUT Oppenheimer & Co. Oppenheimer & Co. Inc. (Oppenheimer), a principal subsidiary of Oppenheimer Holdings Inc. (OPY on the New York Stock Exchange), and its affiliates provide a full range of wealth management, securities brokerage and investment ...
05/24/16 05:22 AMCan stocks thrive amid a rate hike? - Will the market hold its ground even if the Fed raises rates in June? Ari Wald of Oppenheimer and Boris Schlossberg of BK Asset Management discuss with Brian Sullivan.
05/23/16 07:58 PMOppenheimer Offers Q1 Preview For Ulta: A Likely Stand Out In A Mixed Retail Backdrop - Oppenheimer analyst Rupesh Parikh previewed Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA)'s first-quarter results in a research note Monday morning. The analyst maintains an Outperform rating and $235 price target on the stock ahead of the company's May 26 earnings report. "Ulta likely again stands out in a ...Full story available on Benzinga.com
05/23/16 09:52 AMActive Management Is Worth It When The Price Is Right -
05/23/16 09:49 AMFed shouldn’t kid itself on rate risk, says $200 billion manager - Fed policy makers must appreciate the danger that higher interest rates could hurt the US economy, said Krishna Memani, chief investment officer of OppenheimerFunds.
05/20/16 12:26 PMTubeMogul +5.9%; Oppenheimer sees bullish catalysts -
05/18/16 07:37 PMDrawing confidence from investor day, Oppenheimer boosts EA target -
05/18/16 06:55 PMMost Expensive Jewel Ever Auctioned: 'Oppenheimer Blue' Diamond Sells for History-Making $57.5 Million - The rectangular-shaped gem, with a high estimate of $46.1 million, was the lead item at Christie’s Geneva Magnificent Jewels sale. It managed to beat the 12.03-carat “Blue Moon of Josephine,” which sold for a world record in November 2015 for $48.4 million.
05/18/16 03:48 PM'Oppenheimer Blue' diamond sells for over $51M, new record - Roanoke Times - Roanoke Times'Oppenheimer Blue' diamond sells for over $51M, new recordRoanoke TimesA Christie's employee holds Oppenheimer Blue diamond of 14.62 carats, which is estimated to be sold between 38,000,000 to 45,000,000 US Dollar, during a preview at the auction house Christie's, in Geneva, Switzerland, Thursday, May 12, 2016.Blue diamond soars to world record $57.6 million at Christie'sDaily MailOppenheimer blue diamond sells for record $50.6 millionYahoo News'Oppenheimer Blue' sets new record for diamond price at auction, fetching over $51 millionWTOPIrish Independent -Sky News -ITV News -Worcester Telegramall 33 news articles »
05/17/16 03:22 PMChildren's Place Q1'16 Earnings Conference Call: Full Transcript - Operator: Good morning and welcome to the <b>Children's Place Inc</b> (NASDAQ: PLCE) First Quarter 2016 Conference Call. Thank you for joining us this morning. With us here today are Jane Elfers, President and Chief Executive Officer; Mike Scarpa, Chief Operating Officer; and Anurup Pruthi, Chief Financial Officer. A copy of the press release can be found on the company's website.  Before we begin I'd like to remind participants that any forward-looking statements made today are subject to the Safe Harbor statement found in this morning's press release as well as in the company's SEC filing. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially. The company undertakes no obligations to publicly release any revision to these forward-looking statements to reflect events or circumstances after the date hereof. After the prepared remarks, we will open the call to questions. We ask that each of limit yourself to one question so that everyone will have an opportunity. I will now turn the call over to Jane Elfers.   Jane Elfers:President and Chief Executive Officer: Thank you, Krystal and good morning, everyone. As you saw in this morning's press release, we had a very strong Q1. We provided a detailed strategic update on our Q4 call so we will keep our prepared remarks brief morning and let our numbers speak for themselves.  For Q1 we delivered adjusted earnings per share of $1.32, a 59% increase compared to last year's first quarter. We delivered a comparable retail sales increase of 5.1% on top of a 0.7% comp increase in the first quarter of 2015. US comp sales increased 4.4%. Canada comp sales increased 12.8%.  We generated positive comps in all three months of the quarter. We had positive comps in all divisions and all channels including a positive comp in both our US and Canada brick-and-mortar channels. We increased our adjusted gross margin by 170 basis points in Q1 to 39.4% compared to 37.7% in 2015.  We leveraged our adjusted SG&A by 140 basis points in Q1 to 26.1% compared to 27.5% in 2015. We increased our adjusted operating margin by 280 basis points in Q1 to 9.4% compared to 6.6% in 2015 and our inventories entering Q2 are in excellent shape. We ended the quarter with total inventory down 11% and that's on top of an 8% reduction in inventory for the first quarter of 2015.  We continue to return a significant amount of capital to shareholders. Prudent cash flow management and our strong balance sheet have allowed us to consistently reward shareholders. We returned $47 million to shareholders in the first quarter through the repurchase of approximately 595,000 shares and dividend payments. At the end of first quarter, approximately $227 million remained available for future share repurchases under our existing share repurchase program and since 2009 we have returned over $671 million to our investors through share repurchases and dividends.  Based on our strong results we are raising our guidance for the full year despite the challenging environment and continued weakness in store traffic. These guidance assumes a low single-digit comp sales increase, expansion of gross margins, and continued strong expense control.  Now I'll turn it over to Mike.   Michael Scarpa:Chief Operating Officer: Thank you, Jane and good morning, everyone. We continue to make substantial progress on implementing our transformation roadmap and are very encouraged with the results thus far. We have a significant runway ahead of us and opportunity to continue to deliver improved operating results. Here is a quick update on each of our major transformation initiatives.  Inventory management; we are seeing the benefits from our inventory management initiatives as evidenced by the continued expansion in merchandise margin and gains in inventory productivity that we delivered in the first quarter. The inventory productivity capabilities derived from our assortment planning and allocation and replenishment tools have been key drivers of the comp sales and margin results we announced today even as we continued to enhance our learnings.  The 2016 inventory management initiatives that I discussed on the last call are on schedule. We plan to go live in Q4 with an enhanced order planning and forecasting tool which will automate and enable greater precision and timeliness on the reordering of our basics in time to influence our basic inventory position for our back-to-school 2017 season. We are piloting our mark down optimization initiative in the second quarter and plan to go live with phase 1 in the second half of 2016 and we are targeting implementation of our size impact optimization tool in the fourth quarter which will enable us to impact our summer 2017.  Digital capabilities; our digital initiatives also remain on track. We are moving into the next phase of our mobile first digital transformation prioritizing enhancements to checkout, search, browse, and navigate, with checkout and search enhancements going live in Q2. We will also pilot our first omnichannel initiative in the second half of 2016 and the redesign of our loyalty program and migration to our new private label credit card provider will be happening in the fourth quarter of this year.  Fleet optimization; our store fleet optimization initiative continues to drive positive results. We are maintaining our targeted level of store closures at 200 in the period from 2013 to 2017 including the 113 stores closed in fiscal 2013 through the first quarter of of 2016.  Channel expansion; we are confident about the long term global growth and profit potential associated with our expansion into alternative channels of distribution as we further develop our relationships with our international and wholesale partners. We continue to make significant progress in the first quarter on the investments and technology that will enable us to accelerate our channel expansion through international wholesale and e-commerce channels.  In international we opened nine new points of distribution in the first quarter and now have 110 points of distribution. We are on track to open approximately 40 points of distribution in 2016.  In our wholesale business we would be implementing a replenishment program with our major e-tailing customer in the third quarter which will enable us to add significant scale to this business overtime.  Finally, we are encouraged by the opportunity for our brand in China and have decided to accelerate the timing of our investment in that market so that we can be in a position to begin selling online by early 2017.  Now I will turn it over to Anurup.   Anurup Pruthi:Chief Financial Officer: Thank you, Mike. Good morning, everyone. In the first quarter, we delivered adjusted income per diluted share of $1.32 compared to $0.83 per diluted share in the first quarter last year, a 59% increase. The comparison to the first quarter of 2015 was negatively impacted by $0.01 due to foreign exchange.  Details for the first quarter are as follows; net sales were $419.4 million. The comparison to the first quarter of 2015 was negatively impacted by foreign exchange of $2.2 million. Comparable retail sales increased 5.1% on top of a positive 0.7% increase in the first quarter of 2015, consistent with our guidance of a mid single digit increase.  Adjusted gross margin for the quarter leveraged 170 basis points versus last year to 39.4% compared to our guidance of an increase of 70 to 90 basis points. We benefited from a strong merchandise margin increase, a higher AUR and fixed cost leverage resulting from the strong comp.  Adjusted SG&A leveraged 140 basis points compared to last year to 26.1% compared to our guidance of 50 to 60 basis points in leverage driven by decreased store and administrative expenses which were partially offset by increased incentive compensation expenses.  Depreciation was $16.5 million for the quarter and deleveraged 30 basis points reflecting increased depreciation associated with certain transformation related systems.  Adjusted operating income leveraged 280 basis points to 9.4% of sales compared to our guidance of leverage of 90 to 110 basis points. Moving on to the balance sheet; our cash and short-term investments at the end of the quarter were $234 million compared to $201 million last year. We ended the quarter with $25 million outstanding on our revolver.  Inventory at the end of the quarter was down 11% compared to our guidance of a high single-digit decrease. This is on the top of the 8% decrease in the first quarter of 2015. We are pleased with these results and we will continue to tightly manage our inventory levels. Our current and future inventory tools are designed to continue to drive productivity gains.  It is important to note that we have now had six consecutive quarters of inventory reduction.  We generated $28 million in cash flow from operating activities in the first quarter compared to $13 million last year, a 111% increase. Our strong cash flow and liquidity profile provides us with the financial flexibility to continue to fund our strategic initiatives and return capital to shareholders.  Now let me take you through our guidance.  Second quarter guidance; we are projecting second quarter adjusted loss per diluted share in the range of negative $0.30 to negative $0.22. This guidance range assumes the currency exchange rates will negatively impact this result by approximately $0.02 in the second quarter. On a constant currency basis, adjusted loss per diluted share is projected to be negative $0.28 to negative $0.20 compared to negative $0.33 per share in the second quarter of 2015.  We expect that comparable retail sales will increase in the range of 1% to 2%. We expect adjusted gross margin to leverage 130 to 180 basis points compared to last year. We expect adjusted SG&A to de-leverage 70 to 80 basis points compared to last year. Q2 SG&A will include the impact of acceleration of investments related to the startups of our business in China and our replenishment business with a major e-tailer.  It is important to note that second quarter SG&A will also include the impact of higher incentive comp expenses resulting from our projected full year outperformance compared to target. Our second quarter guidance assumes that depreciation will be approximately $16.5 million, de-leveraging 30 to 40 basis points compared to last year. We project adjusted operating margin to leverage 20 to 80 basis points compared to last year. We are guiding inventory to be down low single digits at the end of the second quarter compared to last quarter.  Now on to full year 2016 guidance. We increased fiscal 2016 adjusted EPS guidance to a range of $4.17 to $4.27 per share compared to our previous guidance $4 to $4.10 per share. This guidance range assumes that currency exchange rates will negatively impact adjusted EPS by approximately $0.12 for the full year. On a constant currency basis, adjusted EPS is projected to be $4.29 to $4.39 per share compared to $3.60 per share in fiscal 2015.  We expect comparable retail sales for the year to increase low single digits compared to last year. We expect adjusted gross margin to leverage 90 basis points to 110 basis points compared to last year. We expect adjusted SG&A to be flat to slightly de-leverage compared to last year primarily driven by the impact of acceleration of timing of our investments in China and investments related to the start up of our replenishment business with a major e-tailer in addition to higher incentive compensation expense as mentioned earlier.  As you model Q3 and Q4, you may also recall, that there was a significant shift in incentive compensation expense from Q3, 2015 to Q4, 2015 based upon last year's quarterly results. We expect depreciation for the full year 2016 to be approximately $69 million. We project adjusted operating margin to leverage 60 to 70 basis points compared to 2015. This guidance excludes unusual costs or events that are reported in our non-GAAP adjustments.  Additional guidance for fiscal 2016; we expect our adjusted tax rate to be approximately 35% for the year. We expect apparel AEC to be down low single digits for the compared to 2015. We continue to forecast another year of strong cash from operations in 2016. Our CapEx is expected to be approximately $50 million to $60 million for the year.  We plan to open 7 stores and close approximately 35 stores in 2016.  At this point, we'll open the call to your questions.    Question & Answer     Operator: [Operator Instructions] Your first question comes from a line of Anna Andreeva with Oppenheimer.   Anna Andreeva:Oppenheimer: Great. Thanks so much. Good morning everyone and congrats on great results. I guess a question on the second quarter comp guidance for up 1 to 2, what are you seeing in the business quarter to date and we've been hearing a lot about volatility in retail.  Your trends were nicely resilient in 1Q, may be talk about what are you seeing in the environment in the kids space and what kind of promotional cadence are you embedding for the second quarter? Thanks.    Jane Elfers: Sure. Thank you. Well as far as the first question, I would describe the current quarter trend to day is kind of the Tale of Two Cities. Month to date we've experienced huge swings between our West and our East coast stores.  Just like an example on our US play stores, we have a 50 point trends link between our best and our worst performing states. In our outlet channel, we have 57 point swing between the best ...Full story available on Benzinga.com
05/16/16 10:59 AMDwyer Timothy Martin, Director of Oppenheimer Holdings (NYSE:OPY) buys 1,000 shares - According to Oppenheimer Holdings's most recent Form 4 filing with the SEC dated May 13 04:16 PM, company Director, Dwyer Timothy Martin disclosed buying 1,000 shares at a cost of $13.74. At the time of this transaction (May 13), this trade was worth $ ...
05/13/16 06:11 PMPeek Under The Hood: SMLF Has 14% Upside - Three of SMLF's underlying holdings with notable upside to their analyst target prices are Oppenheimer Holdings Inc (OPY), AgroFresh Solutions Inc (AGFS), and Altisource Residential Corp (RESI). Although OPY has traded at a recent price of $13.82/share ...
05/13/16 11:18 AMEight Oppenheimer Analysts - More Than Any Other Firm - Named Among TipRanks' Top 25 Wall Street Analysts - [at noodls] - 16-PRS-07 Top 25 Wall Street Analysts 05-13-16.indd NYSE - OPY Press Release EIGHT OPPENHEIMER ANALYSTS - MORE THAN ANY OTHER FIRM - NAMED AMONG TIPRANKS' TOP 25 WALL STREET ANALYSTS Eight of Oppenheimer ...
05/13/16 06:52 AMHow is Oppenheimer Developing Markets Y Fund (ODVYX) Performing? -
05/13/16 06:49 AMGuide to Oppenheimer International Growth Y Fund (OIGYX) -
05/12/16 09:30 AMOppenheimer & Co. Inc. Closes its Eleventh Annual Industrial Growth Conference in New York City - [PR Newswire] - NEW YORK, May 12, 2016 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") a unit of Oppenheimer Holdings (NYSE: OPY), held its 11 th Annual Industrial Growth Conference in New York on May ...
05/10/16 02:04 PMOPPENHEIMER HOLDINGS INC Files SEC form 8-K, Submission of Matters to a Vote of Security Holders -
05/09/16 09:00 AMOn Wall Street Names Chad Allen Of Oppenheimer's Park Avenue, NY Office As One Of Its 'Top 10 Branch Managers' - [PR Newswire] - NEW YORK, May 9, 2016 /PRNewswire/ -- Oppenheimer & Co. Inc. ("Oppenheimer") announces that Chad Allen, CAIA®, a Managing Director and Branch Manager of its 200 Park Avenue, New York office, has been named to its prestigious list of "Top 10 Branch Managers." This award, following the magazine's list of the "Top 100 Branch Managers," represents the culmination of On Wall Street's acknowledgment of the branch managers who bring out the best in their financial advisors, recruit promising new candidates, and serve as ambassadors between their financial advisors and top management. "Chad welcomes responsibility, teamwork, and achieving ambitious goals," says Mark Whaley, Executive Vice President and Head of the Private Client Division.
05/05/16 12:40 PMWaste Management Stock Wins a Buy Rating: 3 Reasons These Shares Aren't Trash -
About Oppenheimer

Oppenheimer Holdings Inc. is a middle-market investment bank and service broker-dealer. The Company is engaged in a range of activities in the securities industry, including retail securities brokerage, institutional sales and trading, investment banking, research, market-making, trust services, and investment advisory and asset management services. Its segments are Private Client, which provides financial services in the United States; Asset Management, which offers investment advisory services to its retail and institutional clients; Capital Markets, includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading; Commercial Mortgage Banking, engaged in the business of originating and servicing Federal Housing Administration insured multifamily and healthcare facility loans and securitizing these loans into Government National Mortgage Association mortgage-backed securities.

Industry, Sector and Symbol:
  • Sector: Finanical Services
  • Industry: Investment Brokerage - Regional
  • Sub-Industry: Investment Banking & Brokerage
  • Exchange: NYSE
  • Symbol: OPY
  • CUSIP: 68379710
Key Metrics:
  • Previous Close: $15.61
  • 50 Day Moving Average: $15.05
  • 200 Day Moving Average: $15.22
  • P/E Ratio: N/A
  • P/E Growth: 6.01
  • Market Cap: $208.60M
  • Current Quarter EPS Consensus Estimate: $0.18 EPS
Additional Links:
Oppenheimer (NYSE:OPY) Chart for Sunday, June, 26, 2016


            As Featured by CNBC As Featured by The Wall Street Journal As Featured by MarketWatch As Featured by The Boston Globe As Featured by StockTwits As Featured by Seeking Alpha