Implications Of Mizuho's Acquisition On Greenhill's Financial Forecast: A Look By Analyst
Portfolio Pulse from Lekha Gupta
JMP Securities analyst Devin Ryan downgraded Greenhill & Co Inc (GHL) to Market Perform from Market Outperform after the announcement of its acquisition by Mizuho Financial Group Inc (MFG) for $15 per share. The deal, valued at $550 million, is expected to close by year-end. Ryan sees the deal price as fair and estimates revenues of $293.9 million and EPS of $0.45 in 2023, and $355.5 million and $2.15 in 2024.
May 23, 2023 | 7:15 pm
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NEGATIVE IMPACT
Greenhill downgraded to Market Perform after its acquisition by Mizuho Financial Group for $15 per share. The deal is expected to close by year-end.
The downgrade of Greenhill's rating by JMP Securities analyst Devin Ryan is likely to have a negative short-term impact on the stock price. The acquisition by Mizuho Financial Group is expected to close by year-end, and the analyst sees the deal price as fair. However, the downgrade suggests that the stock may not outperform the market in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Mizuho Financial Group acquires Greenhill & Co Inc for $15 per share, with the deal expected to close by year-end.
Mizuho Financial Group's acquisition of Greenhill & Co Inc is expected to close by year-end, and the deal price is seen as fair by the analyst. However, the impact on Mizuho's stock price in the short term is neutral, as the acquisition is not expected to significantly change the company's overall financial position or performance.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100