trending Market Intelligence /marketintelligence/en/news-insights/trending/-pMN8IM2gEVI08MY41iMyg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Sandler O'Neill downgrades GreenSky following strategic review launch

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Fed Officials Signal Optimism In US Economy Reiterate Rates Likely On Hold

After Curbing Year-End Volatility, Fed Weighs Future Of Repo Operations


Sandler O'Neill downgrades GreenSky following strategic review launch

Sandler O'Neill & Partners analyst Christopher Donat downgraded GreenSky Inc.'s stock rating to "hold" from "buy" as he awaits clarity on both future funding relationships and the company's strategic review.

GreenSky Chairman and CEO David Zalik said the board and senior management started the review and retained FTP Securities LLC and J.P. Morgan Securities LLC as financial advisers and Cravath Swaine & Moore LLP and Troutman Sanders LLP as legal advisers.

The company also suspended its earnings guidance.

Donat said he has "less confidence" in his earnings estimates without management guidance. He lowered his EPS estimates for the company to 65 cents from 72 cents for 2019 and to 72 cents from 90 cents for 2020. He introduced a 2021 estimate of 82 cents.

The analyst reduced his price target for the company to $7 from $14, which is based on 10x his new 2020 EPS estimate.

He also noted that GreenSky's second-quarter EPS of 19 cents was 5 cents lower than his estimate.