Overview

* Jefferies Q3 net revenue rises 22% yr/yr, beating analyst expectations, per LSEG data

* Net earnings for Q3 beat analyst estimates, per LSEG data

* Company declares quarterly cash dividend of $0.40 per share

Outlook

* Company optimistic about future amid improved market conditions for M&A

* Jefferies sees strong positioning due to global reach and client relationships

Result Drivers

* INVESTMENT BANKING - Record advisory revenues driven by increased market share and improved conditions for mergers and acquisitions

* ASSET MANAGEMENT - Improved performance across fund strategies, particularly those with a long equity bias, boosted investment returns

* CAPITAL MARKETS - Strong equities performance due to higher global volumes and robust results in equity options and electronic trading

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $2.05 $1.92

Revenue bln bln (2

Analysts

)

Q3 Net Beat $223.99 $214.30

Income mln mln (1

Analyst)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment banking & brokerage services peer group is "buy"

* Wall Street's median 12-month price target for Jefferies Financial Group Inc ( JEF ) is $75.00, about 11.1% above its September 26 closing price of $66.71

* The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)