Raymond James (RJF) Set to Announce Earnings on Wednesday

Raymond James (NYSE:RJF) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Raymond James to post earnings of $2.28 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Raymond James (NYSE:RJF) last issued its earnings results on Tuesday, January 23rd. The financial services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.15. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.01 billion. Raymond James had a return on equity of 17.95% and a net margin of 12.81%. Raymond James’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. On average, analysts expect Raymond James to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Raymond James Stock Up 1.3 %

Shares of RJF opened at $123.60 on Monday. 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 1 year low of $82.00 and a 1 year high of $131.19. The stock has a 50 day simple moving average of $122.34 and a two-hundred day simple moving average of $111.78. The firm has a market cap of $25.84 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.87 and a beta of 1.05.

Raymond James Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.46%. Raymond James’s payout ratio is currently 22.56%.

Insiders Place Their Bets

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Art A. Garcia acquired 879 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased 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 approximately $98,711.70. The disclosure for this purchase can be found here. 9.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Raymond James

Institutional investors and hedge funds have recently modified their holdings of the stock. Boothbay Fund Management LLC bought a new position in shares of Raymond James during the first quarter valued at $215,000. Vident Investment Advisory LLC bought a new position in shares of Raymond James during the first quarter valued at $202,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Raymond James by 110.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,585 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 833 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Raymond James by 101.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,495 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 753 shares in the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Raymond James by 29.1% during the first quarter. Belpointe Asset Management LLC now owns 1,656 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 373 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research report on Tuesday, April 9th. Morgan Stanley boosted their price objective on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Citigroup upped their target price on Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, TD Cowen upped their target price on Raymond James from $116.50 to $131.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.