Jefferies Group, Inc. (NYSE: JEF) is set to report earnings this coming Tuesday. It was only a few months ago that they were being mistreated as “the next MF Global” by Wall Street. To show you just how bad things got, this stock is still not back to its highs before the selling started really hitting in July of last year. And as far how good things have been in the recovery, Jefferies has seen its stock double since November’s lows!
This will be an important report, but the verdict now is that Jefferies should be able to get its growth back ahead. The firm is not a bank, so it is not going to be hamstrung like many of its Wall Street rivals. The firm has also been able to selectively add on strong asset gatherers who just couldn’t take working for some of the large bulge bracket firms that were in so much trouble or under so much scrutiny.
Thomson Reuters has estimates of $0.29 EPS and $699.2 million in revenues. With shares around $19.10, the 52-week trading range is $9.50 to $25.81.
JON C. OGG