Nomura (NYSE:NMR) Reaches New 52-Week High - Here's Why

Key Points

• Nomura shares reached a new 52-week high of $10.10, up 1.6% from the previous close of $9.91, while trading above both its 50-day and 200-day moving averages.
• Analyst sentiment improved, with upgrades from Nomura, Zacks Research, Bank of America and Wall Street Zen. The stock carries an average “Buy” rating and a consensus price target of $10.20.
• Nomura reported quarterly EPS of $0.30 on $4.19 billion in revenue, with a 10.42% return on equity and an 8.09% net margin; institutional investors own 15.14% of the company.

Nomura Holdings Inc ADR (NYSE:NMR - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.10 and last traded at $10.0950, with a volume of 46538 shares changing hands. The stock had previously closed at $9.91.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Nomura raised Nomura to a "buy" rating and set a $10.20 price objective on the stock in a research report on Thursday, June 25th. Zacks Research upgraded Nomura from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Bank of America raised 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. Wall Street Zen upgraded shares of Nomura from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised shares of Nomura from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $10.20.

Nomura Stock Up 1.6%

The stock has a market cap of $29.53 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69. The business has a fifty day moving average of $9.50 and a 200-day moving average of $8.73. The company has a debt-to-equity ratio of 8.06, a current ratio of 2.00 and a quick ratio of 2.00.

Nomura (NYSE:NMR - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $0.30 EPS for the quarter. Nomura had a return on equity of 10.42% and a net margin of 8.09%.The company had revenue of $4.19 billion for the quarter. Equities research analysts anticipate that Nomura Holdings Inc ADR will post 0.93 earnings per share for the current year.

Hedge Funds Weigh In On Nomura

Several institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC boosted its position in Nomura by 32.4% during the fourth 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 in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Nomura by 4,944.8% in 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 purchasing an additional 2,423,873 shares in the last quarter. Morgan Stanley raised its holdings in Nomura by 7.0% in the fourth quarter. Morgan Stanley now owns 9,815,360 shares of the financial services provider's stock worth $82,351,000 after purchasing an additional 638,424 shares in the last quarter. Millennium Management LLC lifted its position in shares of Nomura by 55.4% during 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 last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Nomura by 27.0% during the first quarter. Renaissance Technologies LLC now owns 2,312,237 shares of the financial services provider's stock valued at $18,244,000 after buying an additional 491,400 shares during the last quarter. 15.14% of the stock is owned by hedge funds and other institutional investors.

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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