Oppenheimer Maintains a 'Perform' on Jefferies Group (JEF); Cutting Estimates Ahead of Q2 Report

June 15, 2012 8:45 AM EDT
Get Alerts JEF Hot Sheet
Price: $21.72 --0%

Rating Summary:
    1 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
Trade JEF Now!
Join SI Premium – FREE
Oppenheimer maintains a 'Perform' on Jefferies Group (NYSE: JEF).

Analyst, Chris Kotowski, said, "We are trimming our earnings estimates ahead of their 2Q12 earnings release, which is expected on Tuesday the 19th. We last updated our estimate on March 20th when they reported 1Q results, and the environment has clearly been much more challenging since that time. We are cutting our 2Q EPS estimate significantly from $0.39 to $0.25 and trimming the "out" quarters but less dramatically. A lot can change very quickly in this business, and we don't believe that one should ever become overly optimistic or pessimistic on any one quarter's trend."

FY12 EPS estimate from $1.42 to $1.25 and FY13 from $1.72 to $1.60. Lowers Q2 trading revenue from $470 mln to $370 mln.

For an analyst ratings summary and ratings history on Jefferies Group click here. For more ratings news on Jefferies Group click here.

Shares of Jefferies Group closed at $12.93 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View

Related Entities

Jefferies & Co, Earnings

Add Your Comment