Tags: leucadia | shares | barrons | jefferies | national beef

Barron's: Leucadia Shares Could Gain as Jefferies, National Beef Rebound

Barron's: Leucadia Shares Could Gain as Jefferies, National Beef Rebound

Sunday, 23 July 2017 07:44 PM

Shares of Leucadia National Corp. stand to rise about 15 percent as some of the conglomerate's key holdings bounce back, according to a Barron's article published on Sunday.

The bump could come as investment bank Jefferies Group LLC, which Leucadia bought in 2012, rebounds from a slump in oil prices and related bonds that hit the firm's commodities and bond units.

The bank shed nearly $5 billion in assets from 2015 to 2016 and also hired dozens of senior investment bankers to bolster capabilities in China and other markets.

Jefferies reported earnings of $138.8 million for the six months ended in May compared to a $113 million loss last year, Barron's said.

Shares of Leucadia, which has holdings ranging from real estate to mining, closed at $26.45 on Friday. Investors say the stock is worth $30 or more, Barron's reported.

Leucadia will also likely be helped by a brightening outlook for National Beef Packing Company, of which it holds a 79 percent position, Barron's said.

The fourth-largest U.S. beef processor also recently reported a sharp increase in earnings compared to a year earlier, when sales were hit by a drop in American beef consumption and losing a top contract with Wal-Mart Stores Inc .

© 2020 Thomson/Reuters. All rights reserved.


   
1Like our page
2Share
InvestingAnalysis
Shares of Leucadia National Corp. stand to rise about 15 percent as some of the conglomerate's key holdings bounce back, according to a Barron's article published on Sunday.
leucadia, shares, barrons, jefferies, national beef
204
2017-44-23
Sunday, 23 July 2017 07:44 PM
Newsmax Media, Inc.
 
Newsmax TV Live

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved