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

Raymond James (NYSE:RJF) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.95 EPS for the quarter, topping 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 firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same period last year, the company earned $2.13 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis.

Raymond James Stock Up 7.3 %

RJF stock traded up $10.01 during mid-day trading on Thursday, hitting $147.37. 2,687,050 shares of the company were exchanged, compared to its average volume of 1,140,108. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. Raymond James has a 1-year low of $91.67 and a 1-year high of $148.68. The firm’s 50 day simple moving average is $123.01 and its 200 day simple moving average is $121.08. The firm has a market cap of $30.35 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.95 and a beta of 1.02.

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.22%. Raymond James’s dividend payout ratio is presently 20.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RJF. 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 report on Tuesday, July 9th. Jefferies Financial Group upped their target price on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Bank of America increased their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Finally, The Goldman Sachs Group increased their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.36.

Insider Activity

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’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 $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.74% 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.