Raymond James (NYSE:RJF) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Raymond James (NYSE:RJF) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08, Zacks reports. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.67% and a net margin of 13.16%. Raymond James’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 EPS.

Raymond James Price Performance

Shares of NYSE:RJF traded up $1.84 during trading on Friday, reaching $119.85. The stock had a trading volume of 573,173 shares, compared to its average volume of 1,119,874. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01. Raymond James has a 1-year low of $91.67 and a 1-year high of $131.19. The stock has a market cap of $24.84 billion, a PE ratio of 14.27, a PEG ratio of 0.70 and a beta of 1.02. The business has a fifty day moving average price of $119.69 and a 200-day moving average price of $119.89.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued 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 dividend yield of 1.50%. Raymond James’s payout ratio is currently 21.77%.

Wall Street Analysts Forecast Growth

RJF has been the topic of several recent analyst reports. TD Cowen raised their price target on shares of Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. UBS Group decreased their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Jefferies Financial Group increased their price objective on Raymond James from $122.00 to $123.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. 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 note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods reduced their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.89.

Insider Buying and Selling

In other Raymond James news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the sale, the insider now owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.74% of the stock is owned by company insiders.

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.