Raymond James (NYSE:RJF) Releases Quarterly 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 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01), Briefing.com reports. The firm had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.03 EPS.

Raymond James Trading Down 0.1 %

Shares of RJF traded down $0.09 during midday trading on Friday, hitting $121.86. The stock had a trading volume of 1,197,930 shares, compared to its average volume of 1,139,872. Raymond James has a fifty-two week low of $82.00 and a fifty-two week high of $131.19. The business has a 50-day simple moving average of $123.10 and a two-hundred day simple moving average of $112.50. The firm has a market cap of $25.47 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.85 and a beta of 1.05. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.37.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Thursday, March 28th. Raymond James’s payout ratio is 21.77%.

Insiders Place Their Bets

In related news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were 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 directly owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were 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 directly owns 21,491 shares in the company, valued at $2,405,057.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RJF. The Goldman Sachs Group restated a “neutral” rating and set a $116.00 price target (down previously from $125.00) on shares of Raymond James in a research report on Wednesday, January 3rd. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. upgraded shares of Raymond James from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Citigroup increased their target price on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $117.00 target price (up previously from $112.00) on shares of Raymond James in a research report on Tuesday, January 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $126.22.

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.