05.02.2020 16:58:42

Stock Alert: Greenhill Climbs After Earnings Beat Estimates

(RTTNews) - Shares of investment bank Greenhill & Co., Inc. (GHL) are climbing more than 27% on Wednesday after the company's earnings surpassed the consensus estimates in the fourth quarter.

The better-than-expected quarterly earnings reported yesterday, after the bell, made the stock gapped up nearly 10% in the morning at $18.25. The stock is currently trading at $21.24

From October last year, GHL had been on an uptrend and earned more than 60% in the past four months.

Net income in the fourth quarter more than doubled to $24.13 million or $1.05 per share from $11.12 million or $0.45 per share in the same quarter a year ago. Analysts polled by Thomson Reuters were expecting $0.49.

Revenue in the quarter rose 20% year-over-year to $106.7 million.

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