Shares of Nomura Holdings Inc ADR American Depositary Shares (NYSE:NMR) traded at a new 52-week high today of $6.54. Approximately 114,000 shares have changed hands today, as compared to an average 30-day volume of 406,000 shares.
Nomura Holdings Inc is Japan’s largest broker, about twice the size of rival Daiwa Securities and roughly three times the size of the securities units of the three megabanks. It is also the largest asset-management company in Japan, with a similar size differential compared with its rivals. Despite its topnotch brand name in retail broking and asset management in Japan, Nomura has struggled to compete effectively in the institutional securities business against larger global rivals. In 2008, Nomura bought European and Asian assets of the failed Lehman Brothers, which led to a sharply higher cost base but did not provide commensurate revenue. Nomura has reduced the scale of these businesses but maintains its ambition to compete globally with the top players.
In the past 52 weeks, Nomura Holdings Inc ADR American Depositary Shares share prices are bracketed by a low of $3.71 and a high of $6.54 and is now at $6.52, 76% above that low price.
Nomura Holdings Inc ADR American Depositary Shares (NYSE:NMR) defies analysts with a current price ($6.52) 29.8% above its average consensus price target of $4.58.
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