Jefferies Group Inc. First Quarter Earnings Sneak Peek

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Jefferies Group, Inc. (NYSE:JEF) will unveil its latest earnings on Tuesday, March 20, 2012. Jefferies Group and its subsidiaries operate as independent, full-service global securities and investment banking firm serving companies and their investors.

Jefferies Group, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 28 cents per share, a decline of 33.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 33 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 28 cents during the last month. Analysts are projecting profit to rise by 17.5% versus last year to $1.21.

Past Earnings Performance: The company beat estimates last quarter after falling short in the prior two. In the fourth quarter of the last fiscal year, the company reported profit of 17 cents per share versus a mean estimate of net income of 14 cents per share. In the third quarter of the last fiscal year, the company missed estimates by 13 cents.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 5.8% in revenue from the year-earlier quarter to $699.2 million.

Analyst Ratings: Analysts seem relatively indifferent about Jefferies Group with four of six analysts surveyed maintaining a hold rating.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 17.8% to $48.4 million (21 cents a share) from $58.9 million (28 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 13.9% to $-895563000.0 from $1.04 billion.

Key Stats:

A year-over-year revenue decrease in the fourth quarter of the last fiscal year snapped a streak of three consecutive quarters of revenue increases. Revenue rose 92.3%in the third quarter of the last fiscal year, 31% in the second quarter of the last fiscal year and 46.8% in the first quarter of the last fiscal year.

The decrease in profit in the fourth quarter of the last fiscal year came after net income rose in the previous quarter. In the third quarter of the last fiscal year, net income rose 47.6%.

Stock Price Performance: Between December 15, 2011 and March 14, 2012, the stock price rose $6.12 (49.8%), from $12.30 to $18.42. It saw one of its worst periods between September 15, 2011 and September 22, 2011 when shares fell for six straight days, dropping 17% (-$2.51) over that span. The stock price saw one of its best stretches over the last year between January 4, 2012 and January 13, 2012, when shares rose for eight straight days, increasing 17.1% (+$2.32) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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