Stifel Q2 revenue beats estimates on investment banking strength
SF•Capital returns and outlook
The company repurchased $177 million in common stock during the quarter.
Stifel did not provide specific financial guidance for the current quarter or full year in its press release.
Analyst coverage and valuation
The current average analyst rating on the shares is "buy," with 3 "strong buy" or "buy" ratings, 5 "hold" ratings and no "sell" or "strong sell" ratings.
The average consensus recommendation for the investment banking and brokerage services peer group is also "buy." Wall Street's median 12-month price target for Stifel Financial Corp is $86.50, about 11.5% above its July 21 closing price of $77.61.
The stock recently traded at 12 times next 12-month earnings, versus a price-to-earnings ratio of 11 three months ago.
Quarterly results beat estimates
Stifel Financial Corp said second-quarter net revenue rose year over year and beat analyst expectations. Adjusted earnings per share for the quarter also beat analyst expectations.
The company reported:
| Metric | Actual | Consensus Estimate |
|---|---|---|
| Q2 Net Revenue | $1.45 bln | $1.42 bln (4 Analysts) |
| Q2 Adjusted EPS | $1.42 | $1.34 (6 Analysts) |
| Q2 EPS | $1.34 | |
| Q2 Adjusted Net Income | $229.30 mln | |
| Q2 Net Income | $217.16 mln | |
| Q2 ROCE | 17.10% |
Investment banking drove revenue growth
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