FY2024 Earnings Estimate for Raymond James Issued By Seaport Res Ptn (NYSE:RJF)

Raymond James (NYSE:RJF) – Equities research analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for Raymond James in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings per share of $9.50 for the year, up from their previous forecast of $9.45. The consensus estimate for Raymond James’ current full-year earnings is $9.55 per share. Seaport Res Ptn also issued estimates for Raymond James’ Q1 2025 earnings at $2.66 EPS, Q2 2025 earnings at $2.32 EPS and FY2025 earnings at $10.05 EPS.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a net margin of 12.72% and a return on equity of 17.94%. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business earned $2.03 earnings per share. Raymond James’s revenue was up 8.6% compared to the same quarter last year.

Several other equities research analysts also recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Morgan Stanley lifted their price objective on Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Bank of America reduced their price objective on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Finally, Citigroup raised their target price on Raymond James from $112.00 to $132.00 and gave the stock a “neutral” rating in a research 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $126.22.

Raymond James Price Performance

NYSE RJF opened at $120.78 on Wednesday. Raymond James has a one year low of $91.67 and a one year high of $131.19. The stock has a 50-day moving average of $122.39 and a 200 day moving average of $119.46. The company has a market capitalization of $25.04 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 1.01.

Raymond James Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.45 per share. The ex-dividend date is Monday, July 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.49%. Raymond James’s payout ratio is currently 21.77%.

Insider Activity

In other news, insider James E. Bunn sold 11,095 shares of Raymond James stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $124.44, for a total transaction of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $121.01, for a total value of $505,095.74. Following the transaction, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Bunn sold 11,095 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the completion of the transaction, the insider now directly owns 46,977 shares in the company, valued at $5,845,817.88. The disclosure for this sale can be found here. Insiders own 9.74% of the company’s stock.

Institutional Investors Weigh In On Raymond James

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Raymond James during the 4th quarter worth $238,830,000. Heritage Wealth Advisors lifted its stake in shares of Raymond James by 3,480.7% during the 1st quarter. Heritage Wealth Advisors now owns 488,258 shares of the financial services provider’s stock worth $62,702,000 after purchasing an additional 474,622 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Raymond James by 16.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,832,458 shares of the financial services provider’s stock worth $204,335,000 after purchasing an additional 263,687 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Raymond James by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 11,570,058 shares of the financial services provider’s stock worth $1,161,981,000 after purchasing an additional 246,349 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Raymond James by 820.2% during the 1st quarter. SG Americas Securities LLC now owns 197,695 shares of the financial services provider’s stock valued at $25,388,000 after buying an additional 176,210 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

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.