Jefferies Financial Group Inc Down 3.21% To $44.64 After Earnings Beat

Jefferies Financial Group Inc (JEF) reported better than expected earnings this afternoon for Q1 2024.

Analyst expectations for Jefferies Financial Group Inc earnings per share (EPS) were at $0.75, with the company surpassing those estimates with a reported EPS of $0.87, leading to a positive surprise of $0.12 per share (16%). Jefferies Financial Group Inc's earnings rose 58% year-over-year as the firm reported an EPS of $0.55 in its year-ago quarter. The positive annual growth shows the Financial Services company is performing well amid recent economic conditions.

Revenues were upbeat at $1.7 billion. That is an increase of 35.48% in revenues from the year-ago report and is 14.36% higher than consensus estimates set at $1.5 billion.

The stock is down 3.21% to $44.64 after the report.

Jefferies Financial Group Inc's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Jefferies Financial Group Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 62. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Jefferies Financial Group Inc is a diversified financial services company. Its business consists of investment banking and capital markets (Jefferies Group), commercial mortgage banking (Berkadia), asset management (Leucadia Asset Management), and online platform for foreign exchange trading (FXCM), a real estate company (Homefed), and vehicle finance (Foursight Capital and Chrome Capital).The company is also involved in other businesses, such as oil and gas exploration, through JETX and Vitesse Energy; automobile dealerships, through Gargadia; fixed wireless broadband services, through Linkem; and gold and silver mining through Golden Queen, among others.