Piper Sandler Companies (PIPR) Beats Q3 Earnings Estimates

Company Performance - Piper Sandler Companies reported quarterly earnings of $2.57 per share, exceeding the Zacks Consensus Estimate of$ 2.53 per share, and up from $1.76 per share a year ago, representing an earnings surprise of 1.58% [1] - The company posted revenues of$ 359.57 million for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 1.51%, compared to $289.49 million in the same quarter last year [1] - Over the last four quarters, Piper Sandler has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Stock Performance - Piper Sandler shares have increased approximately 65.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 21.8% [2] - The current consensus EPS estimate for the upcoming quarter is$ 3.70 on revenues of $455.08 million, and for the current fiscal year, it is$ 11.53 on revenues of $1.51 billion [4] Industry Outlook - The Financial - Investment Bank industry, to which Piper Sandler belongs, is currently ranked in the top 19% of over 250 Zacks industries, indicating a favorable outlook [5] - The performance of Piper Sandler's stock may also be influenced by the overall industry outlook and the results of other companies in the sector, such as Tradeweb Markets, which is expected to report earnings soon [5]