Raymond James (NYSE:RJF) Issues Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Raymond James (NYSE:RJF) released its earnings results on Wednesday. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54, Briefing.com reports. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis.

Raymond James Trading Up 7.3 %

NYSE:RJF traded up $10.01 during mid-day trading on Thursday, reaching $147.37. 2,687,050 shares of the company’s stock traded hands, compared to its average volume of 1,140,108. The company has a 50 day moving average price of $123.01 and a 200-day moving average price of $121.08. The firm has a market capitalization of $30.35 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a 12-month low of $91.67 and a 12-month high of $148.68.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.22%. Raymond James’s dividend payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RJF. JPMorgan Chase & Co. reduced their price objective on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Jefferies Financial Group boosted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. JMP Securities increased their target price on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, UBS Group lowered 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. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Raymond James presently has an average rating of “Hold” and an average price target of $137.36.

Insiders Place Their Bets

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total transaction of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

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.