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Jefferies Falls After Quarterly Profit Misses Estimates

ReutersMar 26, 2026 9:41 AM

Shares of Jefferies Financial JEF.N fall nearly 2% to $38.95 in premarket

The investment bank missed analysts' estimates on Wednesday; its profit rose 22% in the first quarter, buoyed by investment banking, but marred by losses on loans to collapsed companies

Morningstar says the firm offers investors a first glimpse into first-quarter investment banking results, with volumes through February impressing

Adds, "Given that the Iran conflict emerged between the end of Jefferies' fiscal quarter and when its peers close their books, the look-through is less instructive than usual this quarter"

Jefferies' investment banking net revenues in the quarter rose 45% to $1.02 bln from a year earlier, while total revenues climbed to $2.02 bln

Six analysts rate the stock "buy" on average; median PT is $47 - data compiled by LSEG

As of last close, JEF is down ~36% YTD

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