Raymond James to Post Q4 2024 Earnings of $2.43 Per Share, Seaport Res Ptn Forecasts (NYSE:RJF)

Raymond James (NYSE:RJF) – Research analysts at Seaport Res Ptn cut their Q4 2024 earnings estimates for Raymond James in a note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings of $2.43 per share for the quarter, down from their prior estimate of $2.46. The consensus estimate for Raymond James’ current full-year earnings is $9.58 per share. Seaport Res Ptn also issued estimates for Raymond James’ Q2 2025 earnings at $2.35 EPS and Q4 2025 earnings at $2.63 EPS.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. Raymond James’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group dropped their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. JPMorgan Chase & Co. decreased their price objective on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group boosted their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday. Wolfe Research restated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Finally, UBS Group decreased their price objective on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Raymond James currently has an average rating of “Hold” and an average target price of $131.90.

Raymond James Trading Up 1.9 %

RJF opened at $127.13 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The company has a market cap of $26.35 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.83 and a beta of 1.02. The firm has a 50 day simple moving average of $117.27 and a 200 day simple moving average of $120.56. Raymond James has a fifty-two week low of $91.67 and a fifty-two week high of $131.19.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, October 1st. Raymond James’s payout ratio is 21.77%.

Insider Buying and Selling

In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the 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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the 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 completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the stock in a transaction 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 transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at $8,692,390. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by corporate insiders.

Institutional Trading of Raymond James

Several institutional investors and hedge funds have recently added to or reduced their stakes in RJF. Quarry LP bought a new stake in Raymond James during the second quarter worth $29,000. Smithfield Trust Co raised its position in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares in the last quarter. Covestor Ltd raised its position in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 104 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Raymond James in the fourth quarter valued at about $33,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the first quarter valued at about $33,000. 83.83% of the stock is owned by 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.