FY2024 EPS Estimates for Raymond James (NYSE:RJF) Lifted by Zacks Research

Raymond James (NYSE:RJF) – Investment analysts at Zacks Research lifted their FY2024 earnings estimates for Raymond James in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $9.52 for the year, up from their prior estimate of $9.44. The consensus estimate for Raymond James’ current full-year earnings is $9.56 per share. Zacks Research also issued estimates for Raymond James’ Q2 2025 earnings at $2.35 EPS, Q1 2026 earnings at $2.64 EPS, Q2 2026 earnings at $2.66 EPS and FY2026 earnings at $10.93 EPS.

Other equities research analysts have also recently issued research reports about the stock. Bank of America decreased their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on shares of 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. JPMorgan Chase & Co. reduced their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Raymond James from $122.00 to $123.00 and gave the company a “hold” rating in a research report on Monday, July 8th. Ten investment analysts have rated the stock with a hold rating and two have assigned 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 Price Performance

NYSE RJF opened at $115.30 on Friday. Raymond James has a 12 month low of $91.67 and a 12 month high of $131.19. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.75 and a beta of 1.02. The company’s 50 day moving average is $116.33 and its two-hundred day moving average is $119.95. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the business earned $1.85 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, July 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling at Raymond James

In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the transaction, the executive vice president now owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Institutional Trading of Raymond James

Hedge funds have recently modified their holdings of the company. Smithfield Trust Co raised its position in shares of Raymond James by 105.0% in the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd raised its position in shares of Raymond James by 77.0% in the 1st quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Raymond James in the 4th quarter valued at approximately $33,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 1st quarter valued at approximately $33,000. Finally, FinTrust Capital Advisors LLC raised its position in shares of Raymond James by 46.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 429 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 137 shares during the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.