Jefferies Financial Group Reports Weak Q2 Earnings
Portfolio Pulse from Adam Eckert
Jefferies Financial Group Inc (NYSE:JEF) reported weak Q2 earnings with revenue of $1.04 billion in line with estimates, but EPS of 5 cents missed estimates of 27 cents. Investment banking revenue was down 26% YoY and capital markets revenue was down 30%. The company declared a quarterly cash dividend of 30 cents per common share and increased its share buyback authorization to $250 million.
June 27, 2023 | 9:14 pm
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Jefferies Financial Group reported weak Q2 earnings, with a significant drop in investment banking and capital markets revenue. However, the company declared a dividend and increased its share buyback program, which may provide some support to the stock.
Jefferies' weak Q2 earnings, particularly the drop in investment banking and capital markets revenue, could negatively impact the stock. However, the declaration of a dividend and an increase in the share buyback program could provide some support to the stock, mitigating the negative impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100