For the quarter ended November 2023, Jefferies (JEF) reported revenue of $1.2 billion, down 16.8% over the same period last year. EPS came in at $0.30, compared to $0.57 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.18 billion, representing a surprise of +1.64%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.26.
While investors closely watch year-over-year changes in headline numbers — revenue and earnings — and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company’s underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately.
Here is how Jefferies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Revenues by Source- Total Asset Management Net revenues: $140.65 million versus $51.36 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -64.4% change.
- Net Revenues by Source- Total Asset Management Net revenues- Asset management fees and revenues: $18.70 million versus $17.35 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +39.1% change.
- Net Revenues by Source- Total Asset Management Net revenues- Investment return: $62.89 million compared to the $29.25 million average estimate based on two analysts. The reported number represents a change of -59.8% year over year.
- Net Revenues by Source- Total Asset Management Net revenues- Allocated net interest: -$14.57 million compared to the -$12.73 million average estimate based on two analysts. The reported number represents a change of +119.7% year over year.
- Net Revenues by Source- Total Capital Markets: $481.25 million versus the two-analyst average estimate of $512.88 million. The reported number represents a year-over-year change of +0.7%.
- Net Revenues by Source- Total Capital Markets- Equities: $271.48 million compared to the $278.14 million average estimate based on two analysts. The reported number represents a change of +8% year over year.
- Net Revenues by Source- Total Investment Banking and Capital Markets Net revenues: $1.06 billion compared to the $1.21 billion average estimate based on two analysts. The reported number represents a change of +1.1% year over year.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Advisory: $312.31 million versus $360.42 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -18.1% change.
- Net Revenues by Source- Total Investment Banking- Other investment banking: $2.84 million compared to the $42.23 million average estimate based on two analysts. The reported number represents a change of -82.1% year over year.
- Net Revenues by Source- Total Investment Banking: $576.75 million versus the two-analyst average estimate of $697.26 million. The reported number represents a year-over-year change of +1.5%.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Debt underwriting: $129.44 million versus $138.66 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +109.7% change.
- Net Revenues by Source- Total Investment Banking- Total underwriting- Equity underwriting: $132.16 million versus $155.96 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.8% change.
View all Key Company Metrics for Jefferies here>>>
Shares of Jefferies have returned +8.8% over the past month versus the Zacks S&P 500 composite’s +2.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
Jefferies Financial Group Inc. (JEF) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.