Raymond James (NYSE:RJF) Posts Earnings Results, Beats Estimates By $0.54 EPS

Raymond James (NYSE:RJF) issued its quarterly earnings data on Wednesday. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.54, Briefing.com reports. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 earnings per share.

Raymond James Stock Up 7.3 %

Shares of RJF traded up $10.01 during midday trading on Thursday, reaching $147.37. 2,687,050 shares of the company were exchanged, compared to its average volume of 1,140,108. The stock has a 50-day moving average price of $123.01 and a 200-day moving average price of $121.08. The company has a market cap of $30.35 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 0.95 and a beta of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $148.68. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.22%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Analyst Ratings Changes

RJF has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group upped their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Bank of America lifted their target price on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, UBS Group decreased their price objective on Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.36.

Insider Buying and Selling at Raymond James

In related news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the sale, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

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.