Raymond James (NYSE:RJF) Expected to Announce Earnings of $1.73 Per Share

Equities analysts predict that Raymond James (NYSE:RJFGet Rating) will post $1.73 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Raymond James’ earnings, with the highest EPS estimate coming in at $1.86 and the lowest estimate coming in at $1.60. Raymond James posted earnings per share of $1.83 in the same quarter last year, which suggests a negative year over year growth rate of 5.5%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Raymond James will report full-year earnings of $7.46 per share for the current fiscal year, with EPS estimates ranging from $7.37 to $7.61. For the next year, analysts expect that the company will post earnings of $9.47 per share, with EPS estimates ranging from $8.96 to $10.06. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Raymond James.

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

Several research firms have issued reports on RJF. Citigroup dropped their price target on Raymond James from $205.00 to $195.00 in a report on Friday, April 29th. Seaport Res Ptn upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a report on Friday, January 28th. StockNews.com upgraded shares of Raymond James from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Zacks Investment Research lowered shares of Raymond James from a “strong-buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research note on Wednesday, March 30th. Finally, Morgan Stanley upped their price objective 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $136.22.

In other news, insider James E. Bunn sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $100.21, for a total transaction of $601,260.00. Following the transaction, the insider now directly owns 25,096 shares in the company, valued at approximately $2,514,870.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.25% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of RJF. Primecap Management Co. CA boosted its holdings in Raymond James by 66.0% in the 3rd quarter. Primecap Management Co. CA now owns 9,984,742 shares of the financial services provider’s stock valued at $921,392,000 after purchasing an additional 3,968,327 shares during the period. Wellington Management Group LLP increased its position in Raymond James by 80.5% during the 1st quarter. Wellington Management Group LLP now owns 5,629,875 shares of the financial services provider’s stock worth $618,780,000 after purchasing an additional 2,510,966 shares in the last quarter. Norges Bank acquired a new position in Raymond James in the 4th quarter valued at approximately $176,209,000. AGF Investments Inc. acquired a new position in Raymond James in the 1st quarter valued at approximately $176,649,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Raymond James by 768.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,748,684 shares of the financial services provider’s stock valued at $192,198,000 after acquiring an additional 1,547,275 shares during the period. 76.98% of the stock is owned by hedge funds and other institutional investors.

NYSE:RJF traded down $0.02 during midday trading on Wednesday, hitting $93.10. 2,313,674 shares of the stock were exchanged, compared to its average volume of 1,314,836. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 13.13 and a beta of 1.09. Raymond James has a one year low of $81.96 and a one year high of $117.37. The business has a 50-day moving average price of $103.47 and a two-hundred day moving average price of $102.97. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 1st will be given a $0.34 dividend. The ex-dividend date is Thursday, June 30th. This represents a $1.36 annualized dividend and a yield of 1.46%. Raymond James’s dividend payout ratio is currently 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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