StoneX Q1 net income rises 63%

Overview

• Financial services firm's fiscal Q1 net operating revenues rose 47% yr/yr

• Net income for fiscal Q1 increased 63% yr/yr

• Company announces three-for-two stock split

Outlook

• Company did not provide specific future financial guidance

Result Drivers

• SEGMENT PERFORMANCE - Strong results in Commercial and Institutional segments, particularly in Global Metals and Securities businesses

• ACQUISITIONS - First full quarter with RJO and Benchmark businesses contributed to record results

• CLIENT DEMAND - Increased client demand and activity in active markets boosted results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment banking & brokerage services peer group is "buy."

• Wall Street's median 12-month price target for StoneX Group Inc is $122.00, about 7.9% above its February 3 closing price of $113.11

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nGNX3Cxq3H

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