Zacks Research Research Analysts Boost Earnings Estimates for Raymond James (NYSE:RJF)

Raymond James (NYSE:RJF) – Equities researchers at Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for shares of Raymond James in a report released on Monday, July 22nd. Zacks Research analyst R. Department now expects that the financial services provider will earn $2.26 per share for the quarter, up from their prior estimate of $2.24. The consensus estimate for Raymond James’ current full-year earnings is $9.56 per share. Zacks Research also issued estimates for Raymond James’ Q4 2024 earnings at $2.46 EPS, FY2024 earnings at $9.44 EPS, Q1 2025 earnings at $2.52 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.57 EPS, Q4 2025 earnings at $2.64 EPS, FY2025 earnings at $10.06 EPS, Q1 2026 earnings at $2.61 EPS, Q2 2026 earnings at $2.59 EPS, Q3 2026 earnings at $2.76 EPS and FY2026 earnings at $10.75 EPS.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.24 billion. Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 earnings per share.

A number of other research analysts also recently weighed in on the stock. Citigroup raised their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Bank of America decreased their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, TD Cowen upped their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $129.89.

Raymond James Trading Up 5.2 %

NYSE RJF opened at $118.01 on Wednesday. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. The stock’s 50 day moving average price is $119.69 and its two-hundred day moving average price is $119.89. The stock has a market capitalization of $24.46 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.70 and a beta of 1.02.

Institutional Trading of Raymond James

Several hedge funds have recently added to or reduced their stakes in the company. Drive Wealth Management LLC grew its holdings in Raymond James by 3.4% in the 1st quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock valued at $329,000 after buying an additional 85 shares in the last quarter. Steph & Co. grew its stake in shares of Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 91 shares in the last quarter. Private Advisor Group LLC increased its position in Raymond James by 3.6% during the first quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 93 shares during the period. Federated Hermes Inc. raised its stake in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 96 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC boosted its holdings in Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock valued at $771,000 after purchasing an additional 96 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Raymond James

In other Raymond James news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.74% of the company’s stock.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.45 per share. The ex-dividend date was Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. Raymond James’s dividend payout ratio (DPR) is 21.77%.

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.