Zacks: Brokerages Expect Raymond James (NYSE:RJF) to Post $1.92 EPS

Brokerages forecast that Raymond James (NYSE:RJF) will report $1.92 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Raymond James’ earnings. Raymond James posted earnings per share of $1.81 during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 22nd.

According to Zacks, analysts expect that Raymond James will report full year earnings of $7.59 per share for the current fiscal year. For the next year, analysts expect that the business will report earnings of $7.86 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Raymond James.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.89 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.01). The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.01 billion. Raymond James had a return on equity of 16.15% and a net margin of 13.03%. Raymond James’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.79 EPS.

Several research analysts have recently commented on the company. ValuEngine lowered Raymond James from a “hold” rating to a “sell” rating in a research report on Thursday. Argus restated a “focus list” rating on shares of Raymond James in a research report on Wednesday, January 29th. Citigroup upgraded Raymond James from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $71.00 to $60.00 in a research report on Wednesday, March 25th. Wells Fargo & Co reduced their price objective on Raymond James from $81.00 to $62.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Credit Suisse Group boosted their price objective on Raymond James from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $82.00.

In other Raymond James news, EVP Bella Loykhter Allaire sold 10,800 shares of Raymond James stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $101.26, for a total transaction of $1,093,608.00. Following the sale, the executive vice president now owns 58,035 shares of the company’s stock, valued at approximately $5,876,624.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James E. Bunn sold 5,120 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $91.05, for a total value of $466,176.00. Following the completion of the sale, the insider now directly owns 9,563 shares in the company, valued at approximately $870,711.15. The disclosure for this sale can be found here. 10.82% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of RJF. FMR LLC raised its stake in shares of Raymond James by 70.2% in the 4th quarter. FMR LLC now owns 3,303,841 shares of the financial services provider’s stock worth $295,562,000 after buying an additional 1,362,263 shares in the last quarter. Norges Bank bought a new stake in shares of Raymond James in the 4th quarter worth $81,500,000. Macquarie Group Ltd. raised its stake in shares of Raymond James by 129.2% in the 4th quarter. Macquarie Group Ltd. now owns 640,030 shares of the financial services provider’s stock worth $57,256,000 after buying an additional 360,836 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Raymond James by 9.3% in the 4th quarter. Earnest Partners LLC now owns 1,927,185 shares of the financial services provider’s stock worth $172,406,000 after buying an additional 163,608 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Raymond James by 16.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 951,436 shares of the financial services provider’s stock worth $85,115,000 after buying an additional 137,436 shares in the last quarter. 72.31% of the stock is currently owned by institutional investors.

Shares of RJF traded up $6.68 during mid-day trading on Monday, hitting $64.21. The stock had a trading volume of 1,085,100 shares, compared to its average volume of 1,403,556. The company has a market cap of $8.01 billion, a PE ratio of 8.72 and a beta of 1.54. The company’s fifty day simple moving average is $77.19 and its two-hundred day simple moving average is $85.50. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.40. Raymond James has a fifty-two week low of $54.21 and a fifty-two week high of $102.45.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.30%. The ex-dividend date is Tuesday, March 31st. Raymond James’s payout ratio is currently 20.00%.

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.

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