Raymond James (RJF) Expected to Announce Earnings on Wednesday

Raymond James (NYSE:RJF) is anticipated to announce its earnings results after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $2.62 per share and revenue of $3,479,761.26 billion for the quarter.

Raymond James (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS. On average, analysts expect Raymond James to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Raymond James Stock Up 1.7 %

NYSE RJF opened at $169.79 on Wednesday. The stock has a 50 day moving average price of $161.00 and a 200-day moving average price of $137.35. Raymond James has a one year low of $104.24 and a one year high of $171.38. The company has a market capitalization of $34.70 billion, a P/E ratio of 17.49, a P/E/G ratio of 0.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02.

Raymond James Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were issued a $0.50 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.18%. Raymond James’s payout ratio is 20.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RJF. Bank of America boosted their target price on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. JMP Securities upped their target price on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and lifted their price target for the company from $161.00 to $185.00 in a research note on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on Raymond James from $169.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has an average rating of “Hold” and an average target price of $156.09.

Insider Buying and Selling

In other news, CEO Paul C. Reilly sold 50,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $167.30, for a total transaction of $8,365,000.00. Following the transaction, the chief executive officer now directly owns 283,110 shares of the company’s stock, valued at approximately $47,364,303. This represents a 15.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bella Loykhter Allaire sold 1,170 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $169.43, for a total value of $198,233.10. Following the completion of the sale, the insider now directly owns 80,421 shares of the company’s stock, valued at $13,625,730.03. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,621 shares of company stock worth $10,729,488 in the last three months. 0.54% of the stock is owned by 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.