Raymond James (NYSE:RJF) Posts Earnings Results, Misses Estimates By $0.01 EPS

Raymond James (NYSE:RJF) released its quarterly earnings results on Wednesday. The financial services provider reported $2.31 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01), Briefing.com reports. Raymond James had a net margin of 12.72% and a return on equity of 18.24%. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the business posted $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% on a year-over-year basis.

Raymond James Stock Performance

RJF traded up $0.14 during trading hours on Friday, hitting $122.09. The company’s stock had a trading volume of 195,453 shares, compared to its average volume of 1,065,035. The company has a 50-day simple moving average of $123.04 and a 200 day simple moving average of $112.35. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $25.52 billion, a PE ratio of 14.75, a PEG ratio of 0.89 and a beta of 1.05. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.45 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.47%. Raymond James’s dividend payout ratio is presently 21.77%.

Analyst Ratings Changes

RJF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday. Bank of America decreased their price objective on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday. StockNews.com downgraded shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. TD Cowen lowered their price objective on shares of Raymond James from $131.00 to $126.00 and set a “hold” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Raymond James from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $110.00 to $135.00 in a report on Wednesday, January 10th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.22.

Insiders Place Their Bets

In related news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Art A. Garcia bought 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the purchase, the director now directly owns 879 shares of the company’s stock, valued at approximately $98,711.70. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares in the company, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

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.