Raymond James (NYSE:RJF) Expected to Post Quarterly Sales of $2.73 Billion

Brokerages expect Raymond James (NYSE:RJFGet Rating) to post sales of $2.73 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Raymond James’ earnings. The lowest sales estimate is $2.67 billion and the highest is $2.82 billion. Raymond James posted sales of $2.47 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Raymond James will report full-year sales of $11.06 billion for the current financial year, with estimates ranging from $10.96 billion to $11.23 billion. For the next fiscal year, analysts expect that the firm will post sales of $12.64 billion, with estimates ranging from $12.29 billion to $13.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Raymond James.

Raymond James (NYSE:RJFGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.07). Raymond James had a net margin of 13.97% and a return on equity of 19.17%. The firm had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the company posted $1.67 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year.

Several research firms recently weighed in on RJF. Morgan Stanley increased their price target on shares of Raymond James from $128.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, April 11th. Citigroup lowered their target price on shares of Raymond James from $205.00 to $195.00 in a research note on Friday, April 29th. StockNews.com raised shares of Raymond James from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Zacks Investment Research downgraded shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 target price on the stock. in a research note on Wednesday, March 30th. Finally, Seaport Res Ptn raised shares of Raymond James from a “neutral” rating to a “buy” rating in a research note on Friday, January 28th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $136.22.

In other news, insider James E. Bunn sold 6,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $100.21, for a total transaction of $601,260.00. Following the transaction, the insider now owns 25,096 shares of the company’s stock, valued at approximately $2,514,870.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.25% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Raymond James by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 21,689,564 shares of the financial services provider’s stock valued at $2,383,900,000 after acquiring an additional 410,025 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Raymond James by 13.4% in the 1st quarter. Primecap Management Co. CA now owns 11,638,384 shares of the financial services provider’s stock worth $1,279,175,000 after buying an additional 1,374,020 shares during the period. State Street Corp raised its position in Raymond James by 6.7% in the fourth quarter. State Street Corp now owns 9,297,706 shares of the financial services provider’s stock valued at $933,490,000 after purchasing an additional 585,911 shares during the period. Wellington Management Group LLP raised its position in Raymond James by 80.5% in the first quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock valued at $618,780,000 after purchasing an additional 2,510,966 shares during the period. Finally, Geode Capital Management LLC raised its position in Raymond James by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 3,706,246 shares of the financial services provider’s stock valued at $371,402,000 after purchasing an additional 25,573 shares during the period. Hedge funds and other institutional investors own 76.98% of the company’s stock.

RJF opened at $96.13 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $103.04 and its two-hundred day moving average price is $102.87. Raymond James has a 1-year low of $81.96 and a 1-year high of $117.37. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 13.55 and a beta of 1.09.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, July 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, June 30th. Raymond James’s payout ratio is 19.17%.

About Raymond James (Get Rating)

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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Earnings History and Estimates for Raymond James (NYSE:RJF)

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