Raymond James (RJF) Scheduled to Post Earnings on Wednesday

Raymond James (NYSE:RJF) will be releasing its earnings data after the market closes on Wednesday, April 24th. Analysts expect Raymond James to post earnings of $2.28 per share for the quarter.

Raymond James (NYSE:RJF) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 EPS. On average, analysts expect Raymond James to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Raymond James Price Performance

NYSE:RJF traded up $1.64 during trading hours on Friday, reaching $123.60. 3,031,427 shares of the company were exchanged, compared to its average volume of 924,886. The business has a 50 day moving average of $122.34 and a 200 day moving average of $111.58. Raymond James has a 1-year low of $82.00 and a 1-year high of $131.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. The company has a market capitalization of $25.84 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.86 and a beta of 1.05.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.46%. Raymond James’s payout ratio is 22.56%.

Analysts Set New Price Targets

A number of research firms recently commented on RJF. TD Cowen boosted their price target on Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $116.00 price objective (down from $125.00) on shares of Raymond James in a research note on Wednesday, January 3rd. Morgan Stanley raised their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Citigroup boosted their price target on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus price target of $123.88.

Insider Buying and Selling

In other news, Director Art A. Garcia purchased 879 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Raymond James by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock valued at $2,383,900,000 after purchasing an additional 410,025 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James by 26.7% during the 1st quarter. JPMorgan Chase & Co. now owns 6,876,054 shares of the financial services provider’s stock worth $641,330,000 after buying an additional 1,448,047 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Raymond James by 80.5% during the 1st quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after buying an additional 2,510,966 shares during the period. Geode Capital Management LLC increased its stake in shares of Raymond James by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 4,018,058 shares of the financial services provider’s stock valued at $373,915,000 after acquiring an additional 76,385 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Raymond James by 35.1% during the 4th quarter. Morgan Stanley now owns 2,278,272 shares of the financial services provider’s stock valued at $243,433,000 after acquiring an additional 591,327 shares during the period. 83.83% of the stock is currently owned by institutional investors.

About Raymond James

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.