Raymond James (RJF) Receives New Coverage from Analysts at Compass Point

Compass Point started coverage on shares of Raymond James (NYSE:RJF) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $96.00 target price on the financial services provider’s stock.

A number of other brokerages have also issued reports on RJF. Zacks Investment Research upgraded shares of Raymond James from a sell rating to a hold rating in a research report on Monday, January 28th. Citigroup decreased their target price on shares of Raymond James from $86.00 to $85.00 and set a neutral rating on the stock in a research report on Monday, December 10th. ValuEngine lowered shares of Raymond James from a hold rating to a sell rating in a research report on Thursday, January 31st. Wells Fargo & Co restated a buy rating on shares of Raymond James in a research report on Thursday, January 24th. Finally, Argus started coverage on shares of Raymond James in a research report on Wednesday, March 6th. They set a buy rating and a $92.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $95.20.

Shares of NYSE:RJF opened at $82.00 on Monday. Raymond James has a 12-month low of $69.11 and a 12-month high of $102.17. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.56. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.48.

Raymond James (NYSE:RJF) last announced its earnings results on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. Raymond James had a net margin of 12.79% and a return on equity of 15.86%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Raymond James will post 7.15 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be given a dividend of $0.34 per share. The ex-dividend date is Friday, March 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.66%. Raymond James’s dividend payout ratio is 21.02%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $62,711,000. Teacher Retirement System of Texas boosted its position in shares of Raymond James by 89.8% during the 4th quarter. Teacher Retirement System of Texas now owns 75,244 shares of the financial services provider’s stock worth $5,599,000 after acquiring an additional 35,595 shares in the last quarter. FMR LLC boosted its position in shares of Raymond James by 2.7% during the 4th quarter. FMR LLC now owns 950,188 shares of the financial services provider’s stock worth $70,705,000 after acquiring an additional 25,407 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Raymond James during the 4th quarter worth approximately $417,000. Finally, Nordea Investment Management AB boosted its position in shares of Raymond James by 6.1% during the 4th quarter. Nordea Investment Management AB now owns 41,480 shares of the financial services provider’s stock worth $3,085,000 after acquiring an additional 2,402 shares in the last quarter. Institutional investors and hedge funds own 71.17% of the company’s stock.

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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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