Raymond James (NYSE:RJF) Announces Earnings Results

Raymond James (NYSE:RJF) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54, Briefing.com reports. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS.

Raymond James Stock Performance

Shares of RJF opened at $147.37 on Friday. The stock’s 50-day simple moving average is $123.66 and its 200 day simple moving average is $121.26. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $148.68.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.22%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RJF shares. UBS Group reduced their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group upped their price objective on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday. TD Cowen upped their price objective on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price target on Raymond James from $140.00 to $152.00 and gave the stock an “overweight” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.36.

Insider Buying and Selling

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the sale, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.