Greenhill plunges on downbeat first-quarter profit

Greenhill & Co

28/04/2022 11:17

** American investment bank  GHL.N  shares fall as much as
8.6% at $12.02 before the bell
    ** Co reported a quarterly adjusted loss of 66 cents​​ per
share for the quarter ended in March, while Wall Street
estimated a profit of 20 cents, according to Refinitiv data 
 urn:newsml:reuters.com:*:nL5N2WP9K6
    ** Revenue fell 36.9% to $43.48 million from a year ago;
analysts expected $70.12 million
    ** Brokerage KBW cut target price to $12 from $16.5 and
downgrades stock to 'underperform' from 'market perform'
    ** Wall Street's median price target for Greenhill & Co Inc
is $14, down from $18 last month 
    ** GHL down nearly 27% at previous close

 (Reporting by Mehnaz Yasmin in Bengaluru)
 ((Mehnaz.Yasmin@thomsonreuters.com))