Raymond James (NYSE:RJF – Free Report) – Analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Raymond James in a research report issued on Tuesday, September 12th. Zacks Research analyst S. Shah now forecasts that the financial services provider will earn $2.28 per share for the quarter, down from their previous estimate of $2.29. The consensus estimate for Raymond James’ current full-year earnings is $8.53 per share. Zacks Research also issued estimates for Raymond James’ Q3 2024 earnings at $2.22 EPS, Q4 2024 earnings at $2.43 EPS, FY2024 earnings at $9.12 EPS, Q1 2025 earnings at $2.43 EPS and FY2025 earnings at $9.81 EPS.
A number of other equities research analysts have also issued reports on RJF. StockNews.com started coverage on Raymond James in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Bank of America assumed coverage on Raymond James in a research report on Monday, September 11th. They issued a “buy” rating and a $122.00 target price for the company. Jefferies Financial Group lifted their target price on Raymond James from $112.00 to $120.00 in a research report on Monday, July 10th. Finally, Morgan Stanley decreased their target price on Raymond James from $112.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $118.00.
Raymond James Stock Performance
Raymond James stock opened at $107.67 on Friday. The stock’s 50-day moving average is $106.65 and its 200-day moving average is $98.63. The company has a market cap of $22.49 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.97 and a quick ratio of 0.95. Raymond James has a 12 month low of $82.00 and a 12 month high of $126.00.
Raymond James (NYSE:RJF – Get Free Report) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($0.25). Raymond James had a return on equity of 18.73% and a net margin of 13.98%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $1.61 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year.
Raymond James Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, September 29th. Raymond James’s dividend payout ratio (DPR) is presently 21.21%.
In related news, insider Horace Carter sold 3,753 shares of Raymond James stock in a transaction on Monday, July 31st. The stock was sold at an average price of $109.12, for a total value of $409,527.36. Following the transaction, the insider now directly owns 19,515 shares in the company, valued at approximately $2,129,476.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.46% of the stock is owned by insiders.
Hedge Funds Weigh In On Raymond James
A number of hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new position in shares of Raymond James during the first quarter valued at $28,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James during the second quarter valued at $31,000. RFP Financial Group LLC grew its holdings in shares of Raymond James by 160.5% during the second quarter. RFP Financial Group LLC now owns 323 shares of the financial services provider’s stock valued at $34,000 after buying an additional 199 shares in the last quarter. Covestor Ltd grew its holdings in shares of Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock valued at $35,000 after buying an additional 138 shares in the last quarter. Finally, Clear Street Markets LLC grew its holdings in shares of Raymond James by 95.9% during the first quarter. Clear Street Markets LLC now owns 382 shares of the financial services provider’s stock valued at $36,000 after buying an additional 187 shares in the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
Raymond James Company Profile
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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