logo
Plus   Neg
Share
Email

Stock Alert: Jefferies Financial Trading 11% Higher

Shares of investment bank and financial services company Jefferies Financial Group Inc. (JEF) are climbing more than 11% Thursday morning after reporting better-than-expected third-quarter results.

Further, the company has increased stock buyback authorization by $128 million to a total of $250 million.

Net income in the third quarter was $304 million, or $1.07 per share compared with $48.48 million or $0.15 per share last year.Analysts polled by Thomson Reuters were expecting the company to report earnings of $0.33 per share for the quarter.

Revenue for the quarter increased to $1.616 billion form $856.78 million in the same period last year.

Also, the Board has declared a dividend of $0.15 per share payable on November 25, to record holders as on November 13, 2020.

JEF stock is currently trading at $19.05. It has traded in the range of $11.20- $24.03 in the last one year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
General Electric Co. filed a lawsuit against Siemens Energy AG, accusing the German power distribution company of stealing trade secrets for gas turbines. Siemens Energy allegedly used the information to get at least nine contracts to supply gas turbines to public utilities, and also covered up improper business gains. Following a court ruling, the U.S. Food and Drug Administration postponed the effective date for tobacco manufacturing companies to display new health warnings on cigarette packets and in advertisements, by additional 90 days. The warnings with color images is to promote greater public understanding of the negative health consequences of smoking. JPMorgan Chase & Co (JPM) reported strong results in the fourth quarter of 2020, with net profit up 42% largely driven by credit reserve releases of $2.9 billion. The Group said it ended the year with a CET1 ratio of 13.1% and capital above $200 billion, providing with meaningful capacity to further...
Follow RTT