Q4 2024 EPS Estimates for Raymond James Lowered by Zacks Research (NYSE:RJF)

Raymond James (NYSE:RJF) – Zacks Research decreased their Q4 2024 EPS estimates for Raymond James in a report issued on Wednesday, August 14th. Zacks Research analyst R. Department now anticipates that the financial services provider will post earnings per share of $2.42 for the quarter, down from their prior forecast of $2.46. The consensus estimate for Raymond James’ current full-year earnings is $9.56 per share. Zacks Research also issued estimates for Raymond James’ Q1 2025 earnings at $2.49 EPS, Q3 2025 earnings at $2.44 EPS and FY2025 earnings at $9.92 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 company had revenue of $3.23 billion for 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 was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share.

Other equities analysts also recently issued research reports about the stock. Bank of America cut their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. UBS Group cut their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods cut their target price on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Finally, TD Cowen raised their price target on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a report on Monday, July 8th. Ten equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus target price of $129.89.

Raymond James Stock Performance

Shares of RJF stock opened at $115.58 on Monday. The company’s fifty day simple moving average is $116.14 and its 200-day simple moving average is $120.15. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The company has a market cap of $23.80 billion, a PE ratio of 13.98, a P/E/G ratio of 0.78 and a beta of 1.02.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its position in Raymond James by 35.9% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,384 shares of the financial services provider’s stock valued at $789,000 after purchasing an additional 1,687 shares during the last quarter. Quarry LP bought a new stake in Raymond James in the 2nd quarter valued at about $29,000. William B. Walkup & Associates Inc. bought a new stake in Raymond James in the 2nd quarter valued at about $1,656,000. Northwestern Mutual Wealth Management Co. lifted its position in Raymond James by 15.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,965 shares of the financial services provider’s stock valued at $367,000 after purchasing an additional 404 shares during the last quarter. Finally, Nemes Rush Group LLC lifted its position in Raymond James by 0.3% in the 2nd quarter. Nemes Rush Group LLC now owns 64,820 shares of the financial services provider’s stock valued at $8,012,000 after purchasing an additional 172 shares during the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s 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 directly owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $3,429,210.28. Following the completion of the transaction, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

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.