Goldman Sachs Lowers Estimates On Jefferies (JEF), Compensation Ratio Remains Elevated
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Price: $52.33 +1.06%
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 9 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs reiterated its Sell rating and lowed estimates on Jefferies Group (NYSE: JEF) following weaker-than-expected Q2 results.
The firm lowered FY2011-FY2013 EPS estimates to $1.35/$1.65/$1.90 from $1.55/$1.75/$2.00.
The results were weaker due to FICC, Goldman note. More important was the elevated compensation ratio at 59% with management noting that it would stay this way for the next few quarters as they pursue their growth strategy.
For more ratings news on Jefferies Group click here and for the rating history of Jefferies Group click here.
Shares of Jefferies Group closed at $21.35 yesterday.
The firm lowered FY2011-FY2013 EPS estimates to $1.35/$1.65/$1.90 from $1.55/$1.75/$2.00.
The results were weaker due to FICC, Goldman note. More important was the elevated compensation ratio at 59% with management noting that it would stay this way for the next few quarters as they pursue their growth strategy.
For more ratings news on Jefferies Group click here and for the rating history of Jefferies Group click here.
Shares of Jefferies Group closed at $21.35 yesterday.
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