Analyst Consensus ?
ConsensusHold9 ratings
Bullish333.3%
Neutral666.7%
Bearish00.0%
Nomura Holdings, Inc. · NMR · FY2027 Q1 · Calendar Q3 2026
Nomura raises long-term targets after broad-based Q1 improvement
The current quarter supports a constructive view of Nomura's operating trajectory: growth was broad-based, recurring-revenue assets reached a record, and management raised its 2030 targets. The evidence is stronger for improving business momentum than for a low-risk earnings path, because wholesale seasonality, market exposure, and capital constraints remain material.
Reported Before market openNYSEFinancial Services
$27.42B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.30
Consensus $0.23
EPS surprise
+30.4%
Reported versus consensus
Reported revenue
$4.31B
Consensus $3.49B
Revenue surprise
+23.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.6%
Event window
SPY move
-1.5%
Same window
Abnormal move
+2.2%
Stock minus SPY
Volume
1.5×
Versus trailing sessions
Subsequent drift
+3.9%
Up to 20 sessions
NMRSPY benchmark
Ask FN2 about NMR FY2027 Q1
Transcript, numbers and history already loaded
Why did NMR rise 0.6% after beating EPS estimates in FY2027 Q1?What changed in NMR's guidance and outlook in FY2027 Q1?Give me the bull and bear case for NMR after FY2027 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior analysis, the current quarter showed growth across all divisions, record overseas-region income, a new deposit-sweep service, and higher 2030 targets. The emphasis shifted from prior-quarter impairment and acquisition integration to recurring revenue, international wealth management, and equity-led momentum.
Guidance delta
Management raised its 2030 ROE and pretax-income targets, while noting a likely seasonal slowdown in wholesale revenue in the second half of the year.
Key takeaways
- Revenue and pretax profit increased across all divisions, with ROE at its highest level since 2020.
- Recurring-revenue assets reached an all-time high, supported by net inflows and cost coverage.
- International operations and equity businesses were key growth drivers, while wholesale benefited from strong equity revenue.
- The quarter added evidence of operating momentum, but seasonal and market-related variability remains important.
Management priorities
- Scale the deposit-sweep service and deepen banking products.
- Expand International Wealth Management in Asia and the Americas.
- Continue focusing on equity and emerging-market equity funds as growth engines.
- Execute structural reforms and the planned headquarters relocation with limited earnings disruption.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$9.38Current
$5.79Low
$8Average
$10.2High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Neutral | Upgrade | Mar 19, 2026 |
| Jefferies | Hold | Buy | Downgrade | Jan 25, 2023 |
| Goldman Sachs | Neutral | Buy | Downgrade | Mar 30, 2021 |
| Credit Suisse | Neutral | Outperform | Downgrade | Feb 10, 2016 |
| Deutsche Bank | Hold | Buy | Downgrade | Feb 8, 2016 |
| UBS | Neutral | Buy | Downgrade | Jul 22, 2015 |
| Barclays | Equal Weight | Underperform | Upgrade | Jun 23, 2015 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Mar 21, 2013 |
| Macquarie | Outperform | Neutral | Upgrade | Feb 14, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $9.38. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Nomura | Natsumu Tsujino | $10.2 | $8.61 | +8.7% | Jun 25, 2026 |
| Bank of America Securities | Natsumu Tsujino | $5.79 | $5.22 | -38.3% | Oct 22, 2024 |
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Start freeCompany context
Snapshot as of publicationNomura Holdings, Inc. engages in the provision of investment, financing, and related services to individual, institutional, and government clients worldwide. It operates through three segments: Wealth Management, Investment Management, and Wholesale. The Wealth Management segment offers investment consultation services. The Investment Management segment provides investment management services and investment solutions, such as establishing and managing investment trusts, discretionary investment services, as well as investment and management for investment vehicles, and for funds for…
Historical context
All NMR earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.8% | +6.8% | Cboe posts strong Q3 as options growth and new products advance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the NMR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-29T18:04:47.387417+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-10-31T17:50:42.455434+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T17:50:42.452602+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.