Q4 2024 Earnings Estimate for Raymond James Issued By Seaport Res Ptn (NYSE:RJF)

Raymond James (NYSE:RJF) – Analysts at Seaport Res Ptn cut their Q4 2024 earnings per share (EPS) estimates for Raymond James in a note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings per share of $2.43 for the quarter, down from their prior forecast 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.

Several other research firms have also commented on RJF. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. The Goldman Sachs Group lowered their price target on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. TD Cowen boosted their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Company assumed coverage on Raymond James in a research note on Thursday, September 12th. They issued an “overweight” rating and a $138.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $131.90.

Raymond James Stock Up 1.9 %

NYSE RJF opened at $127.13 on Friday. The stock has a 50 day moving average price of $117.48 and a 200-day moving average price of $120.60. Raymond James has a one year low of $91.67 and a one year high of $131.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02. The company has a market capitalization of $26.35 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.83 and a beta of 1.02.

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

Raymond James Announces Dividend

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

Insider Transactions at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 approximately $8,692,390. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The trade was 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.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Handelsbanken Fonder AB lifted its position in shares of Raymond James by 5.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 59,620 shares of the financial services provider’s stock worth $7,301,000 after purchasing an additional 3,324 shares during the period. Czech National Bank lifted its holdings in Raymond James by 6.2% during the third quarter. Czech National Bank now owns 37,757 shares of the financial services provider’s stock worth $4,624,000 after buying an additional 2,208 shares during the period. Trust Co. of Toledo NA OH boosted its position in Raymond James by 2.5% during the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,165 shares of the financial services provider’s stock valued at $1,000,000 after acquiring an additional 199 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Raymond James by 109.3% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 111,462 shares of the financial services provider’s stock worth $13,778,000 after acquiring an additional 58,200 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Raymond James during the 2nd quarter worth $2,846,000. 83.83% of the stock is currently owned by institutional investors.

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.