GFI Group shares down; William Blair reduces estimates

Mon. June 23, 2008; Posted: 11:06 AM

NEW YORK, Jun 23, 2008 (Thomson Financial via COMTEX) -- GFIG | Quote | Chart | News | PowerRating -- William Blair & Co. Monday lowered some of its earnings estimates for outperform-rated GFI Group Inc., saying there is a lack of visibility surrounding the company's near-term growth outlook and that it is concerned about a slowdown in revenue growth because of more conservative capital management from the major dealers.

The firm reduced its 2008 earnings estimate to 90 cents a share from 94 cents a share and its 2009 earnings estimate to $1.05 a share from $1.15 a share.

That said, however, the firm said it still sees GFI as well-positioned to benefit from long-term growth in over-the-counter derivatives and that the company has a strong balance sheet with minimal credit, liquidity and market risk.

GFI shares fell 8% to $9.94 in morning trading. Christie Rizk cr/vj

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For full details on Gfi Group (GFIG) click here. Gfi Group (GFIG) has Short Term PowerRatings of 6. Details on Gfi Group (GFIG) Short Term PowerRatings is available at This Link.

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