Zacks Research Boosts Earnings Estimates for Raymond James

Raymond James (NYSE:RJF - Free Report) - Stock analysts at Zacks Research upped their FY2027 EPS estimates for Raymond James in a research report issued to clients and investors on Wednesday, May 14th. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $11.97 per share for the year, up from their previous forecast of $11.92. The consensus estimate for Raymond James' current full-year earnings is $11.17 per share.

Other equities research analysts also recently issued research reports about the company. JMP Securities reissued a "market outperform" rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday, April 24th. Wall Street Zen cut shares of Raymond James from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a research report on Thursday, January 30th. Bank of America cut shares of Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 target price for the company. in a report on Wednesday, April 30th. Finally, Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $153.82.

Raymond James Price Performance

Shares of Raymond James stock traded down $2.06 during trading on Monday, reaching $146.40. The company's stock had a trading volume of 1,170,035 shares, compared to its average volume of 1,303,886. The business has a 50 day moving average price of $139.91 and a 200-day moving average price of $152.54. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market capitalization of $29.54 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.90 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Tuesday, July 1st. Raymond James's dividend payout ratio (DPR) is presently 19.25%.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 3,650 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total value of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares in the company, valued at approximately $10,677,203.23. This represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in Raymond James by 33.5% in the 3rd quarter. Barclays PLC now owns 847,108 shares of the financial services provider's stock worth $103,738,000 after acquiring an additional 212,697 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Raymond James by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider's stock worth $556,533,000 after purchasing an additional 488,245 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Raymond James in the fourth quarter valued at $204,000. Wealthcare Advisory Partners LLC acquired a new position in Raymond James in the fourth quarter valued at $378,000. Finally, Sax Wealth Advisors LLC purchased a new position in Raymond James during the fourth quarter worth about $200,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.