Raymond James (NYSE:RJF) Announces Quarterly Earnings Results

Raymond James (NYSE:RJF) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.28 by $0.03, Briefing.com reports. Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business posted $2.03 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year.

Raymond James Stock Performance

Shares of RJF stock traded up $0.40 during trading on Wednesday, reaching $127.54. The company had a trading volume of 1,301,462 shares, compared to its average volume of 1,053,612. The firm’s 50 day simple moving average is $122.75 and its two-hundred day simple moving average is $112.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97. Raymond James has a one year low of $82.00 and a one year high of $131.19. The company has a market capitalization of $26.66 billion, a PE ratio of 15.99, a PEG ratio of 0.88 and a beta of 1.05.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.41%. The ex-dividend date was Thursday, March 28th. Raymond James’s dividend payout ratio is currently 22.56%.

Insider Activity at Raymond James

In other Raymond James news, Director Art A. Garcia bought 879 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price target on shares of 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 reissued 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. TD Cowen raised their price objective on shares of Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a research note 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. Finally, Citigroup raised their price objective on shares of Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.88.

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.