Jefferies Cuts Price Target on Gain Capital (GCAP); Reiterates Buy

November 4, 2016 9:22 AM EDT
Get Alerts GCAP Hot Sheet
Price: $6.75 --0%

Rating Summary:
    2 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies maintained a Buy rating on Gain Capital Holdings (NYSE: GCAP), and cut the price target to $7.00 (from $8.00), following the company's 3Q earnings report. Net revenues of $72.2M came in ahead of $69.0M estimates with retail revenue the primary driver.

Analyst Daniel Fannon commented, "3Q16 adjusted EPS of -$0.12 vs our -$0.21 estimate and consensus of -$0.19. YTD trends in retail activity and revenue capture remain choppy, but with a positive bias of late. Margins should grind back up and there remains approx. $5M of run rate synergies to be removed from the fixed expenses by year end. While volumes have come down, the mix of retail activity appears more balanced and profitable."

For an analyst ratings summary and ratings history on Gain Capital Holdings click here. For more ratings news on Gain Capital Holdings click here.

Shares of Gain Capital Holdings closed at $4.57 yesterday.

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