Raymond James (RJF) Cut to Sell at ValuEngine

Raymond James (NYSE:RJF) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other analysts have also weighed in on the company. Goldman Sachs Group started coverage on Raymond James in a report on Tuesday, November 27th. They issued a “neutral” rating and a $85.00 target price on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Raymond James in a report on Thursday, January 24th. Citigroup lowered their target price on Raymond James from $86.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 10th. Credit Suisse Group lowered their target price on Raymond James from $100.00 to $93.00 and set a “neutral” rating on the stock in a report on Monday, January 14th. Finally, Argus started coverage on Raymond James in a report on Wednesday, March 6th. They issued a “buy” rating and a $92.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Raymond James presently has an average rating of “Hold” and a consensus target price of $95.20.

RJF stock traded down $2.18 on Wednesday, reaching $79.35. 1,209,364 shares of the company’s stock were exchanged, compared to its average volume of 932,618. Raymond James has a twelve month low of $69.11 and a twelve month high of $102.17. The firm has a market capitalization of $11.64 billion, a PE ratio of 12.26, a P/E/G ratio of 0.68 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.12 and a quick ratio of 1.10.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, January 23rd. The financial services provider reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.06. Raymond James had a return on equity of 15.86% and a net margin of 12.79%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Raymond James’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts expect that Raymond James will post 7.15 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of RJF. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Raymond James during the third quarter valued at $223,000. LSV Asset Management boosted its stake in shares of Raymond James by 6.6% during the third quarter. LSV Asset Management now owns 189,485 shares of the financial services provider’s stock valued at $17,442,000 after acquiring an additional 11,700 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Raymond James by 181.5% during the third quarter. SG Americas Securities LLC now owns 42,540 shares of the financial services provider’s stock valued at $3,916,000 after acquiring an additional 27,430 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Raymond James by 2.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 418,919 shares of the financial services provider’s stock valued at $38,561,000 after acquiring an additional 9,952 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Raymond James by 0.4% during the third quarter. JPMorgan Chase & Co. now owns 2,642,714 shares of the financial services provider’s stock valued at $243,262,000 after acquiring an additional 11,510 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.

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.

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