Raymond James (NYSE:RJF) Posts Earnings Results, Beats Expectations By $0.08 EPS

Raymond James (NYSE:RJF) announced its earnings results on Wednesday. The financial services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08, Zacks reports. Raymond James had a net margin of 13.16% and a return on equity of 18.67%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the prior year, the company posted $1.85 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis.

Raymond James Stock Performance

Shares of RJF traded down $1.33 during midday trading on Friday, reaching $116.68. 2,179,049 shares of the stock were exchanged, compared to its average volume of 1,712,701. The stock’s 50 day simple moving average is $119.50 and its 200 day simple moving average is $119.92. The company has a market cap of $24.19 billion, a P/E ratio of 14.11, a PEG ratio of 0.74 and a beta of 1.02. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a quick ratio of 0.98, a current ratio of 1.01 and a debt-to-equity ratio of 0.43.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s dividend payout ratio is 21.77%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RJF. Bank of America decreased their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. UBS Group dropped their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. TD Cowen raised their target price on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research note on Monday, July 8th. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday. Ten investment 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, Raymond James currently has an average rating of “Hold” and a consensus price target of $129.89.

Insider Activity at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.74% of the stock is currently owned by corporate insiders.

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.