JEFFERIES FINANCIAL GROUP Reports Q1 EPS $0.87, vs. Street Est of $0.76
JEFFERIES FINANCIAL GROUP Reports Q1 EPS $0.87, vs. Street Est of $0.76。
JEFFERIES FINANCIAL GROUP Reports Q1 EPS $0.87, vs. Street Est of $0.76 Read Post »
Financials
Jefferies Financial Group Fiscal Q1 Earnings, Revenue Rise; Dividend Maintained
Jefferies Financial Group (JEF) reported fiscal Q1 earnings Wednesday of $0.66 per diluted share, up from $0.54 a year earlier. Three analysts polled by Capital IQ expected $0.75. Net revenue in the quarter ended Feb. 29 rose to $1.74 billion from $1.28 billion a year earlier. Two analysts surveyed by Capital IQ expected $1.52 billion. The company’s board maintained a quarterly cash dividend at $0.30 a share, payable on May 30 to shareholders of record on May 20.
Jefferies Financial Group Fiscal Q1 Earnings, Revenue Rise; Dividend Maintained Read Post »
Jefferies Gives Positive Sign On Dealmaking Thaw
Dealmaking is coming back and it’s boosting results for Jefferies Financial Group. The company’s investment banking revenue was up 28% sequentially and 31% from a year earlier. CEO Richard Handler and President Brian Friedman say in a joint statement that there was “modest improvement” in the deals market, and Jefferies saw greater mergers and acquisitions and underwriting activity. The executives expect market-share gains and momentum in investment banking to continue. Jefferies shares edge down 1.3% to $45.50 after-hours.
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Wells Fargo analyst Mike Mayo maintains Citigroup (NYSE:C) with a Overweight
Wells Fargo analyst Mike Mayo maintains Citigroup (NYSE:C) with a Overweight and raises the price target from $70 to $80.
Wells Fargo analyst Mike Mayo maintains Citigroup (NYSE:C) with a Overweight Read Post »
BMO Capital analyst Jeffrey Silber maintains FactSet Research Systems with a Market Perform
BMO Capital analyst Jeffrey Silber maintains FactSet Research Systems with a Market Perform and raises the price target from $447 to $458.
Barclays analyst Manav Patnaik downgrades FactSet Research Systems from Overweight to Equal-Weight
Barclays analyst Manav Patnaik downgrades FactSet Research Systems from Overweight to Equal-Weight and lowers the price target from $480 to $460.
CFRA Keeps Buy Opinion On Shares Of Jpmorgan Chase & Co.
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: JPM share price has done well, and we think there is more room to run with a healthy U.S. economy and consumer, low unemployment, and stable credit. We raise our target price by $25 to $215 using a forward P/E of 13.4x, above the 5-year historical average of 12.3x. We keep our EPS estimates at $16.00 in ’24 and $16.30 in ’25, both in line with the consensus. In our opinion, JPM is gaining wallet share across many different businesses. First, investment banking is coming off the trough and there is less global competition for IPOs and equity secondaries, debt underwriting, and M&A advisory fees. Second, we think mid-size companies are looking to shift loans and other services to larger banks like JPM. Third, JPM has a
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RBC Capital analyst Ashish Sabadra reiterates FactSet Research Systems (NYSE:FDS) with a Sector Perform
RBC Capital analyst Ashish Sabadra reiterates FactSet Research Systems (NYSE:FDS) with a Sector Perform and maintains $464 price target.
Goldman Sachs analyst George Tong maintains FactSet Research Systems with a Sell
Goldman Sachs analyst George Tong maintains FactSet Research Systems with a Sell and raises the price target from $377 to $419.
Goldman Sachs analyst George Tong maintains FactSet Research Systems with a Sell Read Post »
TD Cowen analyst Bill Katz maintains Stifel Financial with a Outperform
TD Cowen analyst Bill Katz maintains Stifel Financial with a Outperform and raises the price target from $86.5 to $92.
TD Cowen analyst Bill Katz maintains Stifel Financial with a Outperform Read Post »
FactSet Research’s Q2 Subscription Value Miss, Wealth Cancellation Weigh on Stock, RBC Says
FactSet Research Systems’ (FDS) wealth cancellation that led to Q2 annual subscription value miss will likely weigh on the stock, RBC Capital Markets said in a note emailed Friday. The company said the loss was a one-off event, but RBC said it expects headwinds from client services to affect the Q3 ASV, adding that investors are worried about potential additional client cancellations. “[FactSet] lowered ASV guidance to the lower end but highlighted a strong pipeline and 4Q23 ASV ramp,” RBC said. However, the ASV guidance for the fiscal second half remains uncertain, which is notable due to prolonged sales cycles, subdued financial services hiring, heightened erosion in banking, lower retention in private equity and venture capital, and increased competition, it added. “[FactSet] is seeing a healthier pipeline in [second half] vs [first half] made up of several 6-7 figure deals,” RBC said, adding that the company is experiencing robust performance
FactSet Research Systems (NYSE:FDS) Q2 2024 Earnings Conference
The following is a summary of the FactSet Research Systems Inc. (FDS) Q2 2024 Earnings Call Transcript: Financial Performance: FactSet recorded Q2 organic ASV plus professional services growth of 5.4% year-over-year, with an adjusted operating margin of 38.3% and adjusted diluted EPS of $4.22. GAAP revenue for the quarter rose by 6% to $546 million, while the GAAP operating expenses increased by 5%. An improvement of 130 basis points was noted in the adjusted operating margin to 38.3% and adjusted diluted EPS rose by 11% to $4.22. Q2 closed with more than 8,000 clients, and user count was 206,478. However, free cash flow decreased by 17% to $122 million compared to the same quarter in the prior year. Business Progress: FactSet’s client retention remained strong at 90%, with ASV retention higher than 95%, despite purchasing decisions being delayed due to client caution. Positive momentum is being seen with corporates within
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