Zacks Research Boosts Earnings Estimates for Raymond James

Raymond James (NYSE:RJF) – Investment analysts at Zacks Research raised their FY2027 earnings per share (EPS) estimates for shares of Raymond James in a research report issued 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.

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

A number of other brokerages also recently commented on RJF. JMP Securities restated a “market outperform” rating and issued a $175.00 target price on shares of Raymond James in a research note on Thursday, April 24th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. The Goldman Sachs Group lowered their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley increased their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods increased their price target on Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.82.

Raymond James Stock Down 0.8%

Shares of RJF opened at $152.56 on Monday. Raymond James has a 52 week low of $104.24 and a 52 week high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $30.78 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.90 and a beta of 1.02. The stock’s 50-day moving average price is $139.80 and its 200-day moving average price is $152.56.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Tuesday, April 1st. Raymond James’s payout ratio is currently 19.25%.

Insider Transactions at Raymond James

In other news, insider James E. Bunn sold 3,650 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares in the company, valued at $10,677,203.23. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Raymond James

A number of large investors have recently made changes to their positions in the stock. CX Institutional boosted its position in shares of Raymond James by 2.9% during the fourth quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after buying an additional 66 shares during the period. Crestwood Advisors Group LLC boosted its position in shares of Raymond James by 3.5% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock worth $308,000 after buying an additional 67 shares during the period. Formidable Asset Management LLC boosted its position in shares of Raymond James by 0.9% during the fourth quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after buying an additional 67 shares during the period. Stablepoint Partners LLC boosted its position in shares of Raymond James by 0.5% during the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after buying an additional 73 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Raymond James by 2.2% during the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider’s stock worth $461,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

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.