Raymond James (NYSE:RJF) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.26, Briefing.com reports. Raymond James had a return on equity of 14.55% and a net margin of 11.64%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $1.80 earnings per share. Raymond James’s revenue for the quarter was down 3.7% on a year-over-year basis.

Shares of RJF traded down $2.43 during trading hours on Thursday, hitting $69.08. 27,168 shares of the stock were exchanged, compared to its average volume of 595,724. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.06. Raymond James has a 12-month low of $54.21 and a 12-month high of $102.45. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 10.21 and a beta of 1.38. The stock’s 50-day moving average price is $70.51 and its two-hundred day moving average price is $74.85.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Tuesday, June 30th. Raymond James’s payout ratio is 20.00%.

In other Raymond James news, President John C. Jr. Carson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $82.53, for a total value of $825,300.00. Following the completion of the sale, the president now directly owns 46,224 shares in the company, valued at approximately $3,814,866.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jeffrey P. Julien sold 9,150 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $81.58, for a total value of $746,457.00. Following the completion of the sale, the vice president now owns 42,092 shares of the company’s stock, valued at $3,433,865.36. The disclosure for this sale can be found here. Insiders have sold 20,400 shares of company stock valued at $1,673,420 over the last quarter. 10.82% of the stock is owned by company insiders.

A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Raymond James from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a report on Wednesday, July 22nd. Credit Suisse Group upped their target price on Raymond James from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Seaport Global Securities assumed coverage on Raymond James in a research note on Wednesday, July 8th. They set a “neutral” rating for the company. Morgan Stanley raised Raymond James from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, June 9th. Finally, Wells Fargo & Co upped their target price on Raymond James from $61.00 to $63.00 and gave the stock an “underweight” rating in a research note on Friday, July 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $70.71.

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.

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Earnings History for Raymond James (NYSE:RJF)

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