Q4 Revenue Reaches $2.07B, Exceeding Consensus
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
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Reports Q4 revenue $2.07B, consensus $1.99B. "Our fourth quarter net revenues were $2.07 billion, net earnings attributable to common shareholders were $191 million and diluted earnings per common share from continuing operations were $0.87," said Richard Handler, CEO, and Brian Friedman, President. "Adjusting our results for a markdown and resulting pre-tax loss of $30 million associated with our investment in Point Bonita-a fund we advise and in which we hold an equity interest-our net earnings attributable to common shareholders was $213 million, or $0.96 per diluted share. Our quarterly results reflect strong performance and sustained momentum in both Investment Banking and Equities, with net revenues increasing 20% and 18%, respectively, partially offset by lower net revenues in Fixed Income and Asset Management. Adjusting for the impact of Point Bonita, our businesses delivered an adjusted return on adjusted tangible shareholders' equity of 12.9%."
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Analyst Views on JEF
Wall Street analysts forecast JEF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for JEF is 72.79 USD with a low forecast of 55.00 USD and a high forecast of 97.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 61.850
Low
55.00
Averages
72.79
High
97.00
Current: 61.850
Low
55.00
Averages
72.79
High
97.00
About JEF
Jefferies Financial Group Inc. is a global, full-service investment banking and capital markets company. The Company provides financial advisory, equity underwriting and debt underwriting services. Its business segments include Investment Banking and Capital Markets and Asset Management. The Investment Banking and Capital Markets segment includes its securities, commodities, futures, and foreign exchange capital markets activities and its investment banking business, which provides underwriting and financial advisory services to clients across various industry sectors in the Americas, Europe and the Middle East, and Asia-Pacific. The Asset Management segment provides alternative investment management services to investors in the United States and overseas and generates investment income from capital invested in and managed by the Company or its affiliated asset managers. It provides mergers and acquisition, debt advisory and restructuring and private capital advisory services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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