03:32 PM EDT, 03/26/2026 (MT Newswires) -- Jefferies Financial ( JEF ) fiscal Q1 earnings per share missed Oppenheimer's estimate and street view largely due to a $36 million goodwill impairment and $17 million in other charges, the brokerage said in a Thursday note.

Revenue came in at $2.02 billion, slightly above expectations by $20 million. Fiscal Q1 EPS of $0.70 fell short of Oppenheimer's $0.96 estimate and the $0.89 consensus, reflecting the impact of the goodwill impairment tied to Tessellis and charges related to MFS and First Brands.

The investment firm said that if mergers and acquisitions normalize, Jefferies could see leveraged gains in earnings and returns. The firm also noted that the shares are cheap on both a relative and absolute basis.

Jefferies resumed share repurchases in fiscal Q1, spending $174 million to retire 3 million shares and increased its buyback authorization to $250 million.

Oppenheimer has a outperform rating on Jefferies with a $74 price target.

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