Greenhill & Co., Inc., an independent investment bank, provides financial and strategic advisory services to corporations, partnerships, institutional investors, and governments worldwide. The company offers advisory services related to mergers and acquisitions, divestitures, restructurings, financings, private capital raising, and other similar transactions. It also advises clients on strategic matters, including activist shareholder defense, special committee projects, licensing deals, and joint ventures; and valuation, negotiation tactics, industry dynamics, structuring alternatives, and timing and pricing of transactions, as well as financing alternatives. In addition, the company provides restructuring advisory services to debtors, creditors, governments, and other stakeholders, and acquirers of distressed companies and assets; and advice on restructuring alternatives, capital structures, and sales or recapitalizations. Further, it assists clients in identifying and capitalizing on incremental sources of value; and on court-assisted reorganizations by developing and seeking approval for plans of reorganization, as well as the implementation of such plans. Additionally, the company advises on private placements of debt and structured equity, refinancing of existing debt facilities, negotiating the modification, and amendment of covenants, as well as acts as an independent advisor. It also offers financial advisory services to pension funds, endowments, and other institutional investors on transactions involving alternative assets; and advice to alternative asset fund sponsors for private capital raising, financing, restructuring, liquidity options, valuation, and related services. The company was founded in 1996 and is headquartered in New York, New York.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on GHL shares. Piper Sandler decreased their target price on Greenhill & Co., Inc. from $14.50 to $10.00 and set a "neutral" rating for the company in a research report on Friday, July 8th. StockNews.com downgraded shares of Greenhill & Co., Inc. from a "buy" rating to a "hold" rating in a research report on Friday, June 3rd. Keefe, Bruyette & Woods cut shares of Greenhill & Co., Inc. from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $16.50 to $12.00 in a research report on Thursday, April 28th. TheStreet downgraded shares of Greenhill & Co., Inc. from a "b-" rating to a "c" rating in a research note on Tuesday, May 31st. Finally, The Goldman Sachs Group dropped their price target on shares of Greenhill & Co., Inc. from $11.00 to $7.00 and set a "sell" rating on the stock in a research note on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Greenhill & Co., Inc. presently has a consensus rating of "Hold" and an average target price of $12.25.
Greenhill & Co., Inc. Stock Up 1.7 %
NYSE:GHL traded up $0.15 during mid-day trading on Thursday, reaching $9.01. 191,592 shares of the company's stock traded hands, compared to its average volume of 205,525. The company has a current ratio of 2.28, a quick ratio of 2.44 and a debt-to-equity ratio of 5.39. Greenhill & Co., Inc. has a 1-year low of $7.65 and a 1-year high of $20.32. The company has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $13.19. The company has a market cap of $164.79 million, a price-to-earnings ratio of 24.51 and a beta of 0.95.
Greenhill & Co., Inc. (NYSE:GHL - Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.41). Greenhill & Co., Inc. had a return on equity of 23.08% and a net margin of 6.35%. During the same quarter last year, the company posted ($0.45) EPS. As a group, equities research analysts expect that Greenhill & Co., Inc. will post 0.25 EPS for the current year.
Greenhill & Co., Inc. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Tuesday, September 13th. Greenhill & Co., Inc.'s payout ratio is currently 108.11%.
Insider Activity
In related news, CEO Scott L. Bok purchased 33,167 shares of Greenhill & Co., Inc. stock in a transaction dated Monday, May 23rd. The shares were acquired at an average price of $11.22 per share, with a total value of $372,133.74. Following the completion of the transaction, the chief executive officer now owns 1,414,225 shares of the company's stock, valued at approximately $15,867,604.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Scott L. Bok purchased 33,167 shares of the stock in a transaction dated Monday, May 23rd. The stock was acquired at an average cost of $11.22 per share, for a total transaction of $372,133.74. Following the acquisition, the chief executive officer now owns 1,414,225 shares of the company's stock, valued at $15,867,604.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Scott L. Bok purchased 32,529 shares of the company's stock in a transaction that occurred on Monday, August 8th. The shares were purchased at an average cost of $8.81 per share, for a total transaction of $286,580.49. Following the completion of the transaction, the chief executive officer now owns 1,448,999 shares in the company, valued at approximately $12,765,681.19. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 106,124 shares of company stock worth $1,026,177. 28.10% of the stock is currently owned by corporate insiders.
