FY2024 Earnings Estimate for Raymond James (NYSE:RJF) Issued By Seaport Res Ptn

Raymond James (NYSE:RJF) – Equities researchers at Seaport Res Ptn raised their FY2024 earnings per share estimates for Raymond James in a note issued to investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $9.50 per share for the year, up from their previous forecast of $9.45. The consensus estimate for Raymond James’ current full-year earnings is $9.55 per share. Seaport Res Ptn also issued estimates for Raymond James’ Q1 2025 earnings at $2.66 EPS, Q2 2025 earnings at $2.32 EPS and FY2025 earnings at $10.05 EPS.

RJF has been the topic of several other reports. TD Cowen reduced their target price on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Bank of America cut their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Citigroup raised their price objective on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Morgan Stanley raised their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Raymond James has an average rating of “Hold” and a consensus target price of $126.22.

Raymond James Stock Performance

NYSE RJF opened at $122.08 on Wednesday. The business’s 50-day moving average price is $122.53 and its 200 day moving average price is $119.46. Raymond James has a twelve month low of $91.67 and a twelve month high of $131.19. The company has a market capitalization of $25.30 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.02. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The business had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $2.03 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.47%. Raymond James’s dividend payout ratio (DPR) is currently 21.77%.

Insider Activity

In other news, insider James E. Bunn sold 11,095 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Raymond James news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the completion of the sale, the insider now owns 46,977 shares in the company, valued at approximately $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

A number of hedge funds have recently bought and sold shares of RJF. Turtle Creek Wealth Advisors LLC bought a new position in Raymond James during the 4th quarter worth approximately $30,000. Smithfield Trust Co lifted its holdings in Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after buying an additional 126 shares during the last quarter. Covestor Ltd lifted its holdings 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 worth $31,000 after purchasing an additional 104 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Raymond James in the 4th quarter worth approximately $33,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James in the 1st quarter worth approximately $33,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.