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Last $25.94 USD
Change Today -0.14 / -0.54%
Volume 53.2K
As of 4:15 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).

oppenheimer holdings-cl a (OPY) Key Developments

Juniper Seeks To Sell Its Stake In Alteva

Juniper Investment Company, LLC says Alteva, Inc. (AMEX:ALTV) soliciting bids in process that is 'unfairly prohibitive'. Juniper which holds a 7.8% stake in Alteva disclosed in a regulatory filing that on March 30, 2015, Juniper was contacted by Oppenheimer Holdings Inc. (NYSE:OPY), acting as Altevas financial advisor, to advise Juniper that the company had decided to solicit proposals for the company and that Juniper would have the opportunity to receive additional evaluation material subject to "what can be described as an onerous and overreaching confidentiality agreement.

Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on May 29, 2015; Announces Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.11 per share payable on May 29, 2015 to holders of Class A non-voting and Class B voting common stock of record on May 15, 2015. The company announced unaudited earnings results for the first quarter ended March 31, 2015. For quarter, the company reported revenue of $245,561,000 against $255,168,000 a year ago. Income before income tax provision was $9,851,000 against $5,109,000 a year ago. Net income for the period was $6,121,000 against $3,420,000 a year ago. Net income attributable to company was $5,719,000 against $3,224,000 a year ago. Diluted earnings per share attributable to company were $0.40 against $0.23 a year ago. Net income was $5,719,000 against $3,224,000 a year ago. Book value per share as at March 31, 2015 was $38.60 against $38.56 a year ago. Tangible book value per share as at March 31, 2015 was $26.25 against $26.10 a year ago.

Oppenheimer Holdings Inc., Annual General Meeting, May 11, 2015

Oppenheimer Holdings Inc., Annual General Meeting, May 11, 2015., at 16:30 US Eastern Standard Time. Location: 85 Broad Street. Agenda: To elect eight directors; to ratify the appointment of Deloitte & Touche LLP as auditors of the company for 2015 and authorize the audit committee to fix the auditors' remuneration; to approve the performance-based compensation agreement described in the accompanying proxy statement; and to transact such other business as is proper at such meeting or any adjournments thereof.

Oppenheimer Holdings Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Declares Quarterly Dividend Payable on February 27, 2015

Oppenheimer Holdings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended Dec. 31, 2014. The company reported net income attributable to company of $2.7 million or $0.19 per diluted share for the fourth quarter of 2014 compared with net income attributable to company of $13.3 million or $0.94 per diluted share for the fourth quarter of 2013, a decrease of 79.8%. Income before taxes was $9.6 million for the fourth quarter of 2014 compared with income before taxes of $23.4 million for the fourth quarter of 2013, a decrease of 58.9%. Revenue was $254.9 million compared with $293.4 million for the fourth quarter of 2013, a decrease of 13.1%. At December 31, 2014, book value per share was $38.71 compared with $38.77 at December 31, 2013 and tangible book value per share was $26.27 compared with $26.19 at December 31, 2013. Operating results for the fourth quarter of 2014 were significantly impacted by a decrease of $31.9 million in gross incentive fees earned from the company's participation in hedge funds in its asset management business. For the year ended December 31, 2014, the company reported net income attributable to company of $8.8 million or $0.62 per diluted share compared with net income attributable to company of $25.1 million or $1.77 per diluted share for the year ended December 31, 2013, a decrease of 64.8%. Income before taxes for the year ended December 31, 2014 was $25.7 million compared with income before taxes of $43.9 million for the year ended December 31, 2013, a decrease of 41.4%. Revenue was $1.0 billion, a decrease of 1.5% compared to the 2013 year. Operating results for the year were significantly impacted by the reduction in gross incentive fees and $19.7 million in charges during the six months ended June 30, 2014 related to two regulatory matters emanating from low-priced securities transactions. The company also announced a quarterly dividend in the amount of $0.11 per share payable on February 27, 2015 to holders of Class A non-voting and Class B voting common stock of record on February 13, 2015.

Oppenheimer Holdings Inc. Announces Quarterly Dividend, Payable on November 28, 2014; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Oppenheimer Holdings Inc. announced a quarterly dividend in the amount of $0.11 per share payable on November 28, 2014 to holders of Class A non-voting and Class B voting common stock of record on November 14, 2014. The company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s revenue was $244,679,000 compared to $243,376,000 for the same period of last year. Income before income taxes was $10,896,000 compared to $8,163,000 for the same period of last year. Net income attributable to the company was $4,470,000 compared to $5,237,000 for the same period of last year. Net income per diluted share was $0.31 compared to $0.37 for the same period of last year. EBITDA was up 33.5% compared with an EBITDA of $8.2 million for the third quarter of 2013. For the nine months, the company’s revenue was $749,536,000 compared to $726,352,000 for the same period of last year. Income before income taxes was $16,141,000 compared to $20,550,000 for the same period of last year. Net income attributable to Oppenheimer Holdings Inc. was $6,140,000 compared to $11,748,000 for the same period of last year. Net income per diluted share was $0.43 compared to $0.83 for the same period of last year. Book value per share was $38.63 as on September 30, 2014 compared to $37.68 as on September 30, 2013. Tangible book value per share was $26.19 as on September 30, 2014 compared to $25.16 as on September 30, 2013.

 

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Industry Analysis

OPY

Industry Average

Valuation OPY Industry Range
Price/Earnings 32.9x
Price/Sales 0.4x
Price/Book 0.7x
Price/Cash Flow 31.4x
TEV/Sales NM Not Meaningful
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