Yahoo Finance Jefferies (JEF) Outpaces Stock Market Gains: What You Should Know
Jefferies (JEF) closed at $31.36 in the latest trading session, marking a +1.98% move from the prior day. The stock outpaced the S&P 500's daily gain of 1.3%. At the same time, the Dow added 0.98%, and the tech-heavy Nasdaq gained 7.48%.
Prior to today's trading, shares of the investment banking and capital markets company had lost 21.21% over the past month. This has lagged the Finance sector's loss of 10.17% and the S&P 500's loss of 2.95% in that time.
Wall Street will be looking for positivity from Jefferies as it approaches its next earnings report date. This is expected to be March 28, 2023. In that report, analysts expect Jefferies to post earnings of $0.58 per share. This would mark a year-over-year decline of 53.23%. Our most recent consensus estimate is calling for quarterly revenue of $1.21 billion, down 30.05% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.36 per share and revenue of $5.39 billion. These totals would mark changes of -0.3% and -11.17%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Jefferies. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.03% lower. Jefferies is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Jefferies is holding a Forward P/E ratio of 9.15. This represents a premium compared to its industry's average Forward P/E of 8.98.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JEF in the coming trading sessions, be sure to utilize Zacks.com.
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Jefferies Financial Group Inc. (JEF) : Free Stock Analysis Report
