Nomura (NYSE:NMR) Raised to Buy at Bank of America

Nomura (NYSE:NMR) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat reports. The firm currently has a $10.20 target price on the financial services provider’s stock. Bank of America‘s price target would suggest a potential upside of 18.12% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded Nomura from a “neutral” rating to an “overweight” rating in a report on Thursday, March 19th. Weiss Ratings cut Nomura from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Nomura raised shares of Nomura to a “buy” rating and set a $10.20 target price on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.20.

Nomura Stock Down 0.1%

Shares of NYSE:NMR opened at $8.63 on Thursday. Nomura has a 52-week low of $6.17 and a 52-week high of $9.58. The stock has a market cap of $25.33 billion, a P/E ratio of 10.79, a PEG ratio of 5.13 and a beta of 0.70. The business has a fifty day moving average of $8.32 and a two-hundred day moving average of $8.44. The company has a quick ratio of 1.13, a current ratio of 1.08 and a debt-to-equity ratio of 7.38.

Nomura (NYSE:NMR) last posted its quarterly earnings results on Friday, April 24th. The financial services provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.05). The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Nomura had a return on equity of 9.70% and a net margin of 7.64%. On average, research analysts expect that Nomura will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Nomura

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC lifted its stake in Nomura by 32.4% during the fourth quarter. Fisher Asset Management LLC now owns 13,151,514 shares of the financial services provider’s stock worth $110,341,000 after purchasing an additional 3,221,008 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Nomura by 4,944.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,472,892 shares of the financial services provider’s stock worth $16,272,000 after buying an additional 2,423,873 shares during the last quarter. Morgan Stanley lifted its position in shares of Nomura by 7.0% during the 4th quarter. Morgan Stanley now owns 9,815,360 shares of the financial services provider’s stock worth $82,351,000 after buying an additional 638,424 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Nomura by 55.4% in the 4th quarter. Millennium Management LLC now owns 1,451,595 shares of the financial services provider’s stock valued at $12,179,000 after buying an additional 517,250 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Nomura by 27.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,312,237 shares of the financial services provider’s stock valued at $18,244,000 after buying an additional 491,400 shares in the last quarter. Institutional investors and hedge funds own 15.14% of the company’s stock.

Nomura Company Profile

Nomura Holdings, Inc is a global financial services group headquartered in Tokyo, Japan, with origins dating back to 1925 when Tokushichi Nomura II established the firm as a securities business. Over the decades Nomura has grown from a domestic securities house into a multinational financial services firm by expanding its product offerings and international footprint. The company is publicly listed and operates through a network of subsidiaries and branches to serve a broad client base.

Nomura’s principal businesses encompass retail brokerage, wholesale (investment banking and global markets), and asset management.