Piper Sandler Q2 revenue beats on increased M&A activity advisory
Piper Sandler Q2 revenue beats on increased M&A activity advisory
Overview
U.S. investment bank's Q2 revenue rose 25% yr/yr, beating analyst expectations
Adjusted EPS for Q2 rose 41% yr/yr
Record advisory revenue driven by increased M&A activity and private capital advisory
Outlook
Company did not provide specific guidance for the current quarter or full year
Result Drivers
ADVISORY SERVICES - Record Q2 advisory revenue driven by increased M&A activity and strong private capital advisory performance
MUNICIPAL FINANCING - Municipal financing revenues reached highest level since 2021, led by special district and hospitality groups
EQUITY BROKERAGE - Equity brokerage delivered one of its best quarters, benefiting from broad platform capabilities and market opportunities
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $496 mln | $438.46 mln (4 Analysts) |
Q2 EPS |
| $0.95 |
|
Q2 Net Income |
| $68 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "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 $88.75, about 20.2% above its July 29 closing price of $73.82
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
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(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.)