Raymond James (RJF) Expected to Announce Earnings on Wednesday

Raymond James (NYSE:RJF) is projected to announce its earnings results after the market closes on Wednesday, January 29th. Analysts expect the company to announce earnings of $2.62 per share and revenue of $3,479,761.26 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Raymond James Stock Performance

NYSE RJF opened at $172.67 on Monday. The company has a 50-day simple moving average of $161.67 and a two-hundred day simple moving average of $138.47. Raymond James has a 12-month low of $104.24 and a 12-month high of $173.15. The firm has a market cap of $35.29 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.04 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.37.

Raymond James Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.16%. This is a positive change from Raymond James’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, January 2nd. Raymond James’s dividend payout ratio (DPR) is presently 20.60%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RJF shares. Keefe, Bruyette & Woods increased their price objective on Raymond James from $143.00 to $170.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. TD Cowen increased their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upgraded Raymond James from a “neutral” rating to a “buy” rating and boosted their price target for the company from $161.00 to $185.00 in a report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $166.00 price objective (up previously from $151.00) on shares of Raymond James in a report on Tuesday, January 7th. Finally, Morgan Stanley upped their target price on Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $156.09.

Insiders Place Their Bets

In related news, insider Bella Loykhter Allaire sold 1,170 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $169.43, for a total transaction of $198,233.10. Following the transaction, the insider now owns 80,421 shares in the company, valued at $13,625,730.03. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $159.47, for a total transaction of $1,594,700.00. Following the sale, the insider now owns 32,688 shares of the company’s stock, valued at approximately $5,212,755.36. This represents a 23.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,621 shares of company stock valued at $10,729,488. Insiders own 0.54% of the company’s stock.

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.