Raymond James (NYSE:RJF) Announces Quarterly Earnings Results

Raymond James (NYSE:RJF) released its quarterly earnings results on Wednesday. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($0.01), Briefing.com reports. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the firm posted $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Raymond James Price Performance

Shares of Raymond James stock traded down $0.09 during trading hours on Friday, reaching $121.86. The stock had a trading volume of 1,197,930 shares, compared to its average volume of 1,139,872. The stock’s 50 day moving average is $123.10 and its 200 day moving average is $112.50. The firm has a market capitalization of $25.47 billion, a PE ratio of 14.74, a PEG ratio of 0.85 and a beta of 1.05. Raymond James has a twelve month low of $82.00 and a twelve month high of $131.19. 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 Announces Dividend

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

Analyst Ratings Changes

RJF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a report on Thursday. UBS Group dropped their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $117.00 price target (up from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, Citigroup upped their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $126.22.

Insiders Place Their Bets

In related news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Art A. Garcia purchased 879 shares of Raymond James stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the transaction, the director now directly owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $111.91, for a total transaction of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at approximately $2,405,057.81. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

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.