Jefferies Q3 Earnings Exceed Estimates, But Price Targets Cut

Jefferies Financial Group Inc. (NYSE: JEF) reported Q3 earnings of $1.09 per share, beating analyst consensus estimates by $0.16.

The company's quarterly revenue reached $2.222 billion, exceeding the forecasted $2.174 billion.

However, despite this beat on both top and bottom lines, several major brokerage firms cut their price targets for Jefferies shares following the announcement.

Goldman Sachs reduced its target from $67 to $57 while maintaining a Buy rating, representing a 15% decrease. Shares declined 1.4% to $46.45 after the earnings release.