Core Insights - Jefferies (JEF) reported a revenue of $1.96 billion for the quarter ended November 2024, marking a year-over-year increase of 63.4% and exceeding the Zacks Consensus Estimate by 6.55% [1] - The earnings per share (EPS) for the same period was $1.05, compared to $0.30 a year ago, representing a surprise of 7.14% over the consensus estimate of $0.98 [1] Financial Performance Metrics - Total Asset Management net revenues reached $314.75 million, significantly surpassing the average estimate of $148.25 million, with a year-over-year change of 123.8% [4] - Total Investment Banking and Capital Markets net revenues were $1.64 billion, slightly below the average estimate of $1.69 billion, but still reflecting a year-over-year increase of 54.9% [4] - Total Capital Markets revenues amounted to $651.69 million, exceeding the average estimate of $580.35 million, with a year-over-year change of 35.4% [4] - Total Investment Banking revenues were reported at $986.82 million, compared to the average estimate of $1.11 billion, showing a year-over-year increase of 71.1% [4] Segment Performance - In the Capital Markets segment, Equities revenues were $410.77 million, surpassing the average estimate of $355.08 million, with a year-over-year increase of 51.3% [4] - Fixed Income revenues reached $240.92 million, exceeding the average estimate of $225.27 million, reflecting a year-over-year change of 14.9% [4] - In the Investment Banking segment, Advisory revenues were $596.71 million, compared to the average estimate of $623.64 million, showing a year-over-year increase of 91.1% [4] - Other Investment Banking revenues skyrocketed to $27.44 million, compared to the average estimate of $49.61 million, with a remarkable year-over-year increase of 865.6% [4]

分组1 - Jefferies reported quarterly earnings of $1.05 per share, exceeding the Zacks Consensus Estimate of $0.98 per share, and showing a significant increase from $0.30 per share a year ago, representing an earnings surprise of 7.14% [1] - The company achieved revenues of $1.96 billion for the quarter ended November 2024, surpassing the Zacks Consensus Estimate by 6.55%, compared to $1.2 billion in revenues from the previous year [2] - Jefferies has outperformed the S&P 500, with shares increasing about 1.5% since the beginning of the year, while the S&P 500 gained 0.5% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.18 on revenues of $2.07 billion, and for the current fiscal year, it is $4.81 on revenues of $8.22 billion [7] - The Financial - Miscellaneous Services industry, to which Jefferies belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Performance - Q4 2024 net revenues reached $1.96 billion, a 63% increase compared to Q4 2023[6] - Q4 2024 pre-tax earnings from continuing operations were $305 million, up 249% from Q4 2023[6] - Q4 2024 diluted earnings per share from continuing operations were $0.91, a 214% increase from Q4 2023[6] - 2024 net revenues totaled $7.03 billion, a 50% increase compared to 2023[7] - 2024 pre-tax earnings from continuing operations were $1.01 billion, up 184% from 2023[7] - 2024 diluted earnings per share from continuing operations were $2.96, a 169% increase from 2023[7] - Net revenues for the three months ended November 30, 2024, were $1,956.6 million, a significant increase from $1,197.2 million in the same period last year[15] - Net earnings attributable to common shareholders for the quarter were $205.7 million, or $0.91 per diluted common share[20] - Net earnings from continuing operations attributable to common shareholders for basic earnings per share reached $200.156 million in Q3 2024, up from $65.550 million in Q3 2023[28] - Diluted earnings per share from continuing operations increased to $0.91 in Q3 2024, compared to $0.29 in Q3 2023[28] - Adjusted net earnings to total shareholders (non-GAAP) rose to $238.034 million in Q3 2024, compared to $73.878 million in Q3 2023[30] Revenue Growth by Segment - 2024 Investment Banking net revenues were $3.44 billion, up 52% from 2023[9] - 2024 Capital Markets net revenues were $2.76 billion, a 24% increase compared to 2023[10] - 2024 Asset Management fee and investment return revenues were $316 million, up 27% from 2023[12] - Investment Banking net revenues for the quarter were $986.8 million, a 73% increase compared to the prior year quarter, driven by strong performance in Advisory and Underwriting[20] - Advisory net revenues reached a record high of $596.7 million for the quarter, attributed to market share gains and increased global mergers and acquisitions activity[20] - Capital Markets net revenues were $651.7 million, up from $486.2 million in the prior year quarter, primarily due to stronger performance in Equities and Fixed Income[20] - Asset Management fees and revenues, along with investment return, totaled $116 million for the quarter, substantially higher than the prior year quarter due to strong investment performance[16] Expenses and Efficiency - Compensation and benefits expense as a percentage of Net revenues decreased to 50.2% from 51.1% in the prior year quarter[20] - Non-compensation expenses as a percentage of Net revenues improved to 33.7% in 2024 from 38.5% in 2023, reflecting revenue growth outpacing expense growth[19] Shareholder Returns and Capital Management - Quarterly cash dividend increased by 14.3% to $0.40 per common share[5] - The company repurchased 1.1 million shares of common stock for $44 million during the year, at an average price of $40.72 per share[21] - Return on adjusted tangible shareholders' equity (non-GAAP) improved to 13.0% in Q3 2024, up from 4.1% in Q3 2023[30] Tax and Financial Position - The effective tax rate from continuing operations was 28.2% for the quarter, compared to 19.3% in the prior year quarter[20] - Total assets increased to $64.360 billion as of November 30, 2024, compared to $57.905 billion in the same period last year[27] - Cash and cash equivalents grew to $12.153 billion as of November 30, 2024, up from $8.526 billion in November 2023[27] - Tangible shareholders' equity grew to $8.103 billion as of November 30, 2024, compared to $7.665 billion in November 2023[27] Operational Metrics - The company's leverage ratio remained stable at 6.3 as of November 30, 2024, consistent with the previous quarter[27] - Number of employees increased to 7,822 at the end of Q3 2024, up from 7,564 in the same period last year[27] - Average VaR (Value at Risk) stood at $12.75 million in Q3 2024, slightly higher than $12.36 million in Q3 2023[27]

Core Viewpoint - The article emphasizes the importance of timing and sustainability in stock trends for successful short-term investing, highlighting that sound fundamentals and positive earnings revisions are crucial for maintaining momentum in stock prices [1][2]. Group 1: Stock Performance - Jefferies (JEF) has shown a solid price increase of 25.3% over the past 12 weeks, indicating strong investor interest and potential upside [4]. - The stock has also maintained a price increase of 2.3% over the last four weeks, suggesting that the upward trend is still intact [5]. - Currently, JEF is trading at 96.9% of its 52-week high-low range, indicating a potential breakout [6]. Group 2: Fundamental Strength - JEF holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are key indicators of near-term price movements [6]. - The stock has an Average Broker Recommendation of 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [7]. Group 3: Investment Strategy - The "Recent Price Strength" screen is a useful tool for investors looking to identify stocks with strong upward trends supported by solid fundamentals [3]. - The article suggests that JEF may not experience a trend reversal soon, making it a viable option for trend investing [8].

Core Viewpoint - Jefferies Financial Group Inc. is expected to report improved fourth-quarter and full-year fiscal 2024 results, with anticipated growth in revenues and earnings compared to the previous year [1][14]. Group 1: Earnings and Revenue Expectations - The consensus estimate for Jefferies' earnings is 85 cents per share, indicating a significant year-over-year increase of 183.3% [14]. - The expected sales for the quarter are $1.75 billion, reflecting a year-over-year growth of 46.2% [14]. - Jefferies has a history of earnings surprises, having surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average beat of 7.49% [3]. Group 2: Investment Banking Performance - The investment banking (IB) income is projected to rise significantly, with a consensus estimate of $1.03 billion, suggesting a year-over-year increase of 78.8% [8]. - Advisory fees are expected to reach $566.9 million, representing a substantial year-over-year surge of 81.5% [5]. - Debt underwriting fees are estimated at $197.6 million, indicating a 52.6% increase, while equity underwriting fees are projected at $217.1 million, reflecting a 64.2% rise [7]. Group 3: Trading Income - Jefferies' trading business is anticipated to perform well, driven by increased client activity and market volatility, with equity trading revenues expected to be $348 million, a rise of 28.2% from the prior year [10]. - Fixed-income trading revenues are estimated at $220.5 million, indicating a year-over-year growth of 5.1% [10]. - Total capital markets income is projected to be $568.5 million, reflecting an 18.1% increase compared to the previous year [10]. Group 4: Expense Considerations - Overall costs are expected to be elevated due to investments in franchises and technology upgrades, which may offset the benefits of cost reduction strategies [11][12].

Core Viewpoint - Analysts project Jefferies (JEF) will report quarterly earnings of $0.85 per share, a 183.3% increase year over year, with revenues expected to reach $1.75 billion, reflecting a 46.2% increase from the same quarter last year [1]. Earnings Projections - The consensus EPS estimate for the quarter has not changed over the past 30 days, indicating analysts have not revised their initial projections [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3]. Revenue Estimates - Analysts estimate 'Net Revenues by Source- Total Asset Management Net revenues' will reach $148.25 million, a 5.4% year-over-year increase [5]. - 'Net Revenues by Source- Total Investment Banking and Capital Markets Net revenues' are projected at $1.60 billion, indicating a 51.2% year-over-year increase [5]. - 'Net Revenues by Source- Total Asset Management Net revenues- Investment return' is expected to be $36.30 million, reflecting a 42.3% decrease from the previous year [6]. - 'Net Revenues by Source- Total Capital Markets' is projected to be $568.47 million, a year-over-year increase of 18.1% [6]. - 'Net Revenues by Source- Total Capital Markets- Equities' is estimated at $348.02 million, indicating a 28.2% year-over-year increase [7]. - 'Net Revenues by Source- Total Capital Markets- Fixed income' is expected to be $220.45 million, reflecting a 5.1% year-over-year increase [7]. - 'Net Revenues by Source- Total Investment Banking- Total underwriting- Advisory' is projected at $566.86 million, an 81.5% increase from the prior year [8]. - The consensus for 'Net Revenues by Source- Total Investment Banking' stands at $1.03 billion, indicating a 78.8% year-over-year increase [8]. - 'Net Revenues by Source- Total Investment Banking- Total underwriting- Debt underwriting' is expected to reach $197.56 million, a 52.6% year-over-year increase [9]. - 'Net Revenues by Source- Total Investment Banking- Total underwriting- Equity underwriting' is projected at $217.07 million, reflecting a 64.3% year-over-year increase [9]. - 'Net Revenues by Source- Total Investment Banking- Total underwriting' is estimated at $414.63 million, indicating a 58.5% increase from the previous year [10]. - 'Net Revenues by Source- Total Asset Management Net revenues- Asset management fees and revenues' is expected to be $22.01 million, reflecting a 17.7% year-over-year increase [10]. Stock Performance - Jefferies shares have increased by 1.3% over the past month, contrasting with a -2.8% change in the Zacks S&P 500 composite [11].

Core Insights - Mr. Mavroudis is a professional portfolio manager with a focus on risk management and in-depth financial market analysis [1] - He has successfully navigated major crises, including the COVID-19 pandemic and the PSI [1] - Mr. Mavroudis is the CEO of FAST FINANCE Investment Services, a registered Greek company [1] Company Profile - FAST FINANCE Investment Services is registered by the Hellenic Capital Market Commission [1] - The company specializes in managing institutional and private portfolios globally across various financial instruments [1] Professional Background - Mr. Mavroudis holds multiple degrees, including an MSc in Financial and Banking Management, an LLM in Law, and a BSc in Economics, graduating as valedictorian [1] - He is certified in various financial disciplines, including portfolio management and derivatives [1] Engagement and Contribution - Mr. Mavroudis writes daily articles for reputable financial media and participates as a guest commentator on television and online programs [1] - He aims to foster a community of mutual growth and knowledge sharing through his contributions on platforms like Seeking Alpha [1]

Core Viewpoint - Jefferies Financial Group Inc. (JEF) has experienced significant stock price appreciation, reaching an all-time high of $82.04, with a year-to-date increase of 102.3%, outperforming both the industry and the S&P 500 Index [1][2]. Stock Performance - JEF shares surged nearly 27% since the U.S. presidential election on November 5 [1]. - The stock is currently trading above its 50-day and 200-day moving averages, indicating strong upward momentum and price stability [2][5]. Investment Banking (IB) Business Recovery - Jefferies' IB revenues fell sharply in fiscal 2022 and 2023, with declines of 37.9% and 20.7%, respectively. However, there has been a notable recovery, with a 45.6% increase in the first nine months of fiscal 2024 [6][10]. - The revival of the IB business is expected to be driven by a more favorable economic environment and a potential increase in deal-making activities due to recent interest rate cuts by the Federal Reserve [10][11]. Strategic Partnerships and Joint Ventures - Jefferies is strengthening its partnership with Sumitomo Mitsui Financial Group, collaborating on corporate and IB deals, which has seen a significant increase in deal volume from 30 to around 130 over the past year [14]. - The company's joint ventures, particularly with Massachusetts Mutual Life Insurance Company and Berkshire Hathaway, are expected to contribute positively to its financials as market conditions improve [13]. Analyst Sentiments and Earnings Estimates - The Zacks Consensus Estimate for Jefferies' earnings for fiscal 2024 remains at $2.92, while the estimate for fiscal 2025 has been revised upward to $4.79, indicating a projected growth of 158.4% for fiscal 2024 and 63.9% for fiscal 2025 [15][18]. - The earnings estimates reflect a strong year-over-year growth trajectory, with significant increases anticipated in both current and next fiscal years [18]. Overall Outlook - The combination of a recovering IB business, strategic partnerships, and a strong balance sheet positions Jefferies favorably for future growth, making it an attractive investment opportunity despite its recent stock price highs [19].

Jefferies Financial Group (NYSE: JEF ) has come a long way since its days as "Leucadia National" pre-2018. Today, the corporation skews mostly toward investment banking advisory, followed by equity/debt underwriting, and capital markets (equity/debt trading) across the US, EU, and Asia. Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it exp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, par value $1 per share JEF New York Stock Exchange 4.850% Senior Notes Due 2027 JEF 27A New York Stock Exchange 5.875% Senior Notes Due 2028 JEF 28 New York Stock Exchange 2.750% Senior Notes Due 2032 JEF 32A New York Stock Exchange 6.200% Senior Notes Due 2034 JEF 34 New York Stock E ...