Nomura (NYSE:NMR) Hits New 1-Year High - Still a Buy?

Key Points

• Nomura shares hit a new 52-week high, trading as high as $9.59 on Thursday and closing just below that level. The move came with above-average trading volume of 667,980 shares.
• Wall Street sentiment is broadly positive, with Nomura holding a consensus Buy rating and an average target price of $10.20. Recent upgrades from Bank of America and JPMorgan helped support the bullish view.
• The company’s latest quarter was mixed: EPS missed estimates at $0.16 versus $0.21 expected, but revenue came in above forecasts at $3.64 billion. Institutional ownership remains notable, with several major hedge funds increasing their stakes.

Nomura Holdings Inc ADR (NYSE:NMR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $9.59 and last traded at $9.5650, with a volume of 667980 shares. The stock had previously closed at $9.45.

Wall Street Analyst Weigh In

Several analysts have issued reports on NMR shares. Weiss Ratings downgraded shares of Nomura from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Bank of America upgraded shares of Nomura from a "neutral" rating to a "buy" rating and set a $10.20 target price for the company in a research note on Thursday, June 25th. JPMorgan Chase & Co. raised shares of Nomura from a "neutral" rating to an "overweight" rating in a report on Thursday, March 19th. Finally, Nomura upgraded shares of Nomura to a "buy" rating and set a $10.20 price objective on the stock in a report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $10.20.

Nomura Stock Performance

The company has a market capitalization of $28.09 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.71 and a beta of 0.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 7.38. The stock has a 50-day simple moving average of $8.46 and a 200-day simple moving average of $8.51.

Nomura (NYSE:NMR - Get Free Report) last posted its quarterly earnings results on Friday, April 24th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.05). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.43 billion. Nomura had a net margin of 7.64% and a return on equity of 9.70%. On average, analysts anticipate that Nomura Holdings Inc ADR will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Nomura

Large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its position in Nomura by 32.4% during the 4th quarter. Fisher Asset Management LLC now owns 13,151,514 shares of the financial services provider's stock valued at $110,341,000 after purchasing an additional 3,221,008 shares during the period. Orion Porfolio Solutions LLC grew its position in shares of Nomura by 4,944.8% during the second quarter. Orion Porfolio Solutions LLC now owns 2,472,892 shares of the financial services provider's stock worth $16,272,000 after acquiring an additional 2,423,873 shares during the last quarter. Morgan Stanley increased its holdings in shares of Nomura by 7.0% in the 4th quarter. Morgan Stanley now owns 9,815,360 shares of the financial services provider's stock worth $82,351,000 after acquiring an additional 638,424 shares during the period. Millennium Management LLC lifted its position in Nomura by 55.4% in the 4th quarter. Millennium Management LLC now owns 1,451,595 shares of the financial services provider's stock valued at $12,179,000 after purchasing an additional 517,250 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Nomura by 27.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,312,237 shares of the financial services provider's stock valued at $18,244,000 after purchasing an additional 491,400 shares during the period. 15.14% of the stock is currently owned by institutional investors.

About Nomura

Nomura Holdings, Inc is a global financial services group headquartered in Tokyo, Japan, with origins dating back to 1925 when Tokushichi Nomura II established the firm as a securities business. Over the decades Nomura has grown from a domestic securities house into a multinational financial services firm by expanding its product offerings and international footprint. The company is publicly listed and operates through a network of subsidiaries and branches to serve a broad client base.

Nomura's principal businesses encompass retail brokerage, wholesale (investment banking and global markets), and asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.