Raymond James (NYSE:RJF) Receives $119.43 Average PT from Brokerages

Shares of Raymond James (NYSE:RJF – Get Rating) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $119.43.

Several research firms recently weighed in on RJF. Morgan Stanley cut their price objective on shares of Raymond James from $121.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, April 20th. Credit Suisse Group dropped their target price on shares of Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. StockNews.com assumed coverage on shares of Raymond James in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Citigroup dropped their target price on shares of Raymond James from $130.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th.

Raymond James Trading Up 0.4 %

RJF stock opened at $90.63 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.98 and a quick ratio of 0.97. The company has a fifty day moving average price of $90.41 and a two-hundred day moving average price of $104.69. Raymond James has a one year low of $82.00 and a one year high of $126.00. The stock has a market cap of $19.21 billion, a price-to-earnings ratio of 11.94 and a beta of 1.02.

Raymond James (NYSE:RJF – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.14). The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.89 billion. Raymond James had a return on equity of 18.43% and a net margin of 14.01%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Raymond James will post 8.99 EPS for the current year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Monday, April 3rd were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, March 31st. This represents a $1.68 dividend on an annualized basis and a yield of 1.85%. Raymond James’s dividend payout ratio (DPR) is presently 22.13%.

Institutional Trading of Raymond James

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC purchased a new stake in Raymond James in the 1st quarter valued at approximately $364,000. Yousif Capital Management LLC boosted its holdings in Raymond James by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 28,663 shares of the financial services provider’s stock valued at $3,150,000 after purchasing an additional 275 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Raymond James in the 1st quarter valued at approximately $4,195,000. Prudential PLC purchased a new stake in Raymond James in the 1st quarter valued at approximately $540,000. Finally, Cetera Investment Advisers boosted its holdings in Raymond James by 52.9% in the 1st quarter. Cetera Investment Advisers now owns 4,636 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 1,604 shares in the last quarter. 74.77% of the stock is owned by hedge funds and other institutional investors.

About Raymond James

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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.