StoneX Q1 net income rises 63%

Reuters
Feb 05
StoneX Q1 net income rises 63%

Overview

  • Financial services firm's fiscal Q1 net operating revenues rose 47% yr/yr

  • Net income for fiscal Q1 increased 63% yr/yr

  • Company announces three-for-two stock split

Outlook

  • Company did not provide specific future financial guidance

Result Drivers

  • SEGMENT PERFORMANCE - Strong results in Commercial and Institutional segments, particularly in Global Metals and Securities businesses

  • ACQUISITIONS - First full quarter with RJO and Benchmark businesses contributed to record results

  • CLIENT DEMAND - Increased client demand and activity in active markets boosted results

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Operating Revenues

$724.40 mln

Q1 EPS

$2.50

Q1 Net Income

$139 mln

Q1 ROE

22.50%

Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "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 StoneX Group Inc is $122.00, about 7.9% above its February 3 closing price of $113.11

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nGNX3Cxq3H

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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.)

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