Brokers Set Expectations for Raymond James' FY2024 Earnings (NYSE:RJF)

Raymond James (NYSE:RJF - Free Report) - Analysts at Zacks Research issued their FY2024 EPS estimates for Raymond James in a note issued to investors on Wednesday, May 15th. Zacks Research analyst R. Department anticipates that the financial services provider will earn $9.37 per share for the year. The consensus estimate for Raymond James' current full-year earnings is $9.56 per share. Zacks Research also issued estimates for Raymond James' FY2025 earnings at $9.89 EPS.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the prior year, the business earned $2.03 earnings per share. The company's quarterly revenue was up 8.6% on a year-over-year basis.

RJF has been the topic of several other research reports. Citigroup raised their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Morgan Stanley raised their price objective on Raymond James from $113.00 to $123.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. Bank of America decreased their target price on Raymond James from $145.00 to $141.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. UBS Group decreased their price objective on Raymond James from $116.00 to $115.00 and set a "neutral" rating for the company in a report on Thursday, January 25th. Finally, JMP Securities reiterated a "market perform" rating on shares of Raymond James in a research report on Tuesday, April 9th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Raymond James has an average rating of "Hold" and a consensus target price of $126.22.

Raymond James Stock Up 0.7 %

RJF traded up $0.82 on Friday, hitting $126.42. 679,945 shares of the company were exchanged, compared to its average volume of 1,040,750. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The company has a market cap of $26.20 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.87 and a beta of 1.03. The firm has a 50-day moving average price of $124.63 and a two-hundred day moving average price of $115.16. Raymond James has a twelve month low of $87.29 and a twelve month high of $131.19.

Institutional Trading of Raymond James

Several institutional investors have recently added to or reduced their stakes in RJF. American Century Companies Inc. increased its position in shares of Raymond James by 26.0% in the third quarter. American Century Companies Inc. now owns 165,966 shares of the financial services provider's stock worth $16,668,000 after acquiring an additional 34,200 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Raymond James by 29.9% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 335,385 shares of the financial services provider's stock worth $37,395,000 after purchasing an additional 77,263 shares during the period. Intrust Bank NA grew its holdings in Raymond James by 4.5% during the fourth quarter. Intrust Bank NA now owns 4,968 shares of the financial services provider's stock valued at $554,000 after purchasing an additional 213 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Raymond James by 13.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 2,718 shares of the financial services provider's stock worth $273,000 after purchasing an additional 318 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Raymond James by 6.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 17,536 shares of the financial services provider's stock valued at $1,955,000 after buying an additional 997 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Raymond James

In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven M. Raney sold 4,174 shares of the firm's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares in the company, valued at $6,172,599.09. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by company insiders.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 28th. Raymond James's dividend payout ratio is currently 21.77%.

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.