Overview
U.S. investment bank's Q1 revenue rose 33% yr/yr
Adjusted EPS for Q1 was $1.00; litigation expenses reduced EPS by $0.08
Company raised quarterly dividend 14% to $0.20 and returned $171 mln to shareholders
Outlook
Company did not provide specific financial guidance for the current or future periods in its press release
Result Drivers
ADVISORY SERVICES - Increased M&A and debt capital markets activity drove a 16% rise in advisory revenues yr/yr
CORPORATE FINANCING - Corporate financing revenues more than doubled, led by healthcare sector underwriting
EQUITY BROKERAGE - Record Q1 equity brokerage revenues as clients navigated elevated volatility
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$474 mln
Q1 EPS
$0.92
Q1 Net Income
$65 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and 1 "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 Piper Sandler Companies is $92.00, about 5.5% above its April 30 closing price of $87.20
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 18 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
