Nomura (NYSE:NMR) Reaches New 1-Year High - Here's What Happened

Key Points

• Nomura Holdings ADR hit a new 52-week high, trading as high as $9.91 and closing near $9.75, up from the prior close of $9.62.
• Analyst sentiment has improved, with Bank of America and Nomura both upgrading the stock to Buy and JPMorgan moving it to Overweight; the consensus rating is now Buy with a $10.20 average price target.
• Recent earnings were mixed: Nomura missed EPS estimates last quarter but beat revenue expectations, while analysts still expect about $0.80 EPS for the full year.

Nomura Holdings Inc ADR (NYSE:NMR - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $9.91 and last traded at $9.7450, with a volume of 1182967 shares changing hands. The stock had previously closed at $9.62.

Analyst Upgrades and Downgrades

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

Nomura Price Performance

The company has a debt-to-equity ratio of 7.38, a current ratio of 1.08 and a quick ratio of 1.08. The stock's 50 day moving average price is $8.60 and its two-hundred day moving average price is $8.55. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 2.76 and a beta of 0.69.

Nomura (NYSE:NMR - Get Free Report) last posted its earnings results on Friday, April 24th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.05). The firm 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, equities research analysts anticipate that Nomura Holdings Inc ADR will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Nomura

Several large investors have recently made changes to their positions in the business. Fisher Asset Management LLC raised its stake 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 last quarter. Orion Porfolio Solutions LLC raised 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 valued at $16,272,000 after buying an additional 2,423,873 shares during the last quarter. Morgan Stanley lifted its stake in shares of Nomura by 7.0% in the fourth quarter. Morgan Stanley now owns 9,815,360 shares of the financial services provider's stock valued at $82,351,000 after buying an additional 638,424 shares during the period. Millennium Management LLC lifted its stake in shares of Nomura by 55.4% in the fourth quarter. Millennium Management LLC now owns 1,451,595 shares of the financial services provider's stock valued at $12,179,000 after buying an additional 517,250 shares during the period. Finally, Renaissance Technologies LLC grew its position in Nomura by 27.0% during the first quarter. Renaissance Technologies LLC now owns 2,312,237 shares of the financial services provider's stock worth $18,244,000 after buying an additional 491,400 shares in the last quarter. Institutional investors and hedge funds own 15.14% of the company's stock.

Nomura Company Profile

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.

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