Greenhill plunges on downbeat results

Greenhill & Co

28/04/2022 18:01

(Updates)
    ** Shares of U.S. investment bank  GHL.N  plunge as much as
15% to $11.11, the lowest since January 2021
    ** Stock last down at $12.10, headed for its worst day since
August 2021, if losses hold
    ** Co reported a quarterly adjusted loss of 66 cents​​/share
for the quarter ended 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 mln; analysts expected
$70.12 mln
    ** Brokerages KBW cuts target price to $12 from $16.5 and
Piper Sandler lowers it to $14.5 from $15; median target price
is $14, down from $18 last month 
    ** Stock trading below 30 on the relative strength index,
suggesting an oversold stock; RSI is a technical indicator which
indicates that a stock is overbought when it is trading at 70 or
above and oversold if it is at 30 or below
    ** Including session moves, GHL down nearly 31% so far this
year

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