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Greenhill & Co., Inc. Message Board

  • bechody bechody Jul 15, 2011 2:42 PM Flag

    Support = $40. Short a way with confidence

    You'll be rewarded.

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    • How's that short working out for ya.

      Last Trade: 48.56
      Trade Time: 4:04PM EDT
      Change: 2.03 (4.36%)

      Might suggest reading the earnings call transcript. Pay particular attention to the Q&A part about the share buyback with the sizable amount of $68+ Million authorization remaining.

      Lauren Smith - Keefe, Bruyette, & Woods, Inc.

      Great. And then, I guess, just lastly for me, you would purchase some stock in the quarter and you have fairly sizable remaining authorization, $68 million plus, and given stock price and there's been a lot of volume, I mean, is it fair to say you guys are out there actively buying back your stock?

      Scott Bok

      Well, we're not today, because we're always frozen for a couple of days after a -- for a little while, a few weeks before and a couple of days after returnings announcement. But certainly, we think that is a good use of some capital. And you can see from our balance sheet that it's really very strong. You can see from our earnings, and what Ie said about the pipeline that we feel good about our cash flow. So certainly, we do hope to buy back more stock in the coming period, because it's as you pointed out, it's at a value at least that we think it's quite attractive for us to be buying it in.

    • I also hope you covered SWC...granted you were right there...but you are a broken record!

    • I hope you covered!

    • Good luck with that call...

      GHL Blows away earnings estimates!!! News

      The New York-based company reported net income of $21.48 million or $0.69 per share for the second quarter, about 22 percent higher than $17.55 million or $0.57 per share in the prior-year quarter.

      On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share for the second quarter. Analysts' estimate typically excludes one-time items.

      Results for the latest quarter include an unrealized gain of $5.6 million from the company's investment in Iridium, while the year-ago quarter included an unrealized gain in Iridium of $18.9 million.

      However, revenues for the quarter grew 9 percent to $90.77 million from $83.53 million in the same quarter last year, and topped four Wall Street analysts' consensus estimate of $73.10 million.

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