Nomura (NYSE:NMR) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $6.25 target price on the financial services provider's stock. Zacks Investment Research's price target points to a potential upside of 10.62% from the stock's current price.
According to Zacks, "NOMURA HLDG-ADR is a leading financial services group in Japan and has worldwide operations, providing a wide range of value-added financial services and competitive products. These include brokerage, trading, underwriting, M&A financial advisory services, merchant banking, and development and management of investment trusts and investment advisory services to diversified clients such as individuals, corporations, financial institutions, governments and governmental agencies. "
NMR opened at $5.65 on Thursday. The company has a debt-to-equity ratio of 6.05, a quick ratio of 1.03 and a current ratio of 1.03. Nomura has a fifty-two week low of $3.55 and a fifty-two week high of $5.85. The firm's fifty day moving average is $5.34 and its 200 day moving average is $4.94. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 2.56 and a beta of 0.99.
Nomura (NYSE:NMR) last announced its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $3.95 billion for the quarter, compared to analysts' expectations of $3.28 billion. Nomura had a net margin of 13.00% and a return on equity of 8.41%. On average, equities research analysts predict that Nomura will post 0.97 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in NMR. JPMorgan Chase & Co. lifted its stake in Nomura by 76.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,242 shares of the financial services provider's stock worth $34,000 after purchasing an additional 3,132 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Nomura in the 3rd quarter worth $47,000. Brinker Capital Investments LLC purchased a new stake in Nomura in the 3rd quarter worth $49,000. WealthStone Inc. purchased a new stake in Nomura in the 3rd quarter worth $60,000. Finally, Optas LLC purchased a new stake in Nomura in the 3rd quarter worth $67,000. Institutional investors and hedge funds own 0.47% of the company's stock.
Nomura Holdings, Inc provides various financial services to individuals, corporations, financial institutions, governments, and governmental agencies worldwide. It operates through three segments: Retail, Asset Management, and Wholesale. The Retail segment offers various financial products and investment services for individuals and corporations.
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