Raymond James (RJF) to Release Quarterly Earnings on Wednesday

Raymond James (NYSE:RJF) is scheduled to be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.28 per share for the quarter.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.15. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. 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 Stock Performance

Shares of RJF stock traded up $1.64 during trading on Friday, reaching $123.60. The company had a trading volume of 3,031,427 shares, compared to its average volume of 924,886. The firm’s 50 day simple moving average is $122.34 and its two-hundred day simple moving average is $111.58. Raymond James has a one year low of $82.00 and a one 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 PE ratio of 15.49, a PEG ratio of 0.86 and a beta of 1.05.

Raymond James Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RJF. TD Cowen boosted their target price on shares of Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $116.00 target price (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. Morgan Stanley upped their price target on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price objective (up previously from $112.00) on shares of Raymond James in a research note on Tuesday, January 9th. Finally, JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $123.88.

Insider Activity

In related news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 21,491 shares in the company, valued at approximately $2,405,057.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction dated Monday, January 29th. The shares were 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 owns 21,491 shares in the company, valued at approximately $2,405,057.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the transaction, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

A number of hedge funds and other institutional investors have recently bought and sold shares of RJF. Private Advisor Group LLC bought a new position in shares of Raymond James in the first quarter valued at about $364,000. Yousif Capital Management LLC lifted its position in shares of Raymond James by 1.0% during the first quarter. Yousif Capital Management LLC now owns 28,663 shares of the financial services provider’s stock worth $3,150,000 after purchasing an additional 275 shares in the last quarter. Cibc World Market Inc. acquired a new position in shares of Raymond James during the first quarter worth approximately $4,195,000. Prudential PLC acquired a new stake in shares of Raymond James in the first quarter valued at approximately $540,000. Finally, Cetera Investment Advisers increased its position in Raymond James by 52.9% in the first quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 1,604 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

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.