Raymond James (NYSE:RJF) Receives $92.83 Consensus PT from Analysts

Shares of Raymond James (NYSE:RJF) have received a consensus rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $92.83.

A number of brokerages have commented on RJF. Citigroup cut their price target on shares of Raymond James from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Thursday, September 19th. Morgan Stanley started coverage on Raymond James in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $91.00 target price for the company. ValuEngine upgraded Raymond James from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Credit Suisse Group cut their target price on Raymond James from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st.

Shares of RJF stock traded up $0.64 during mid-day trading on Tuesday, reaching $90.55. The company’s stock had a trading volume of 749,693 shares, compared to its average volume of 923,786. The firm’s 50-day moving average is $87.10 and its two-hundred day moving average is $83.19. The company has a market cap of $12.46 billion, a P/E ratio of 12.24 and a beta of 1.53. Raymond James has a 1-year low of $69.11 and a 1-year high of $92.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.09 and a current ratio of 1.11.

Raymond James (NYSE:RJF) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.01. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.99 billion. Raymond James had a net margin of 12.89% and a return on equity of 16.51%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.68 EPS. Sell-side analysts anticipate that Raymond James will post 8.1 EPS for the current year.

In related news, EVP Jonathan N. Santelli sold 1,200 shares of Raymond James stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $84.80, for a total transaction of $101,760.00. Following the completion of the transaction, the executive vice president now directly owns 1,078 shares of the company’s stock, valued at approximately $91,414.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven M. Raney sold 5,399 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $89.05, for a total transaction of $480,780.95. Following the completion of the transaction, the chief executive officer now owns 36,462 shares in the company, valued at $3,246,941.10. The disclosure for this sale can be found here. Insiders have sold a total of 57,854 shares of company stock valued at $5,052,643 in the last quarter. 10.74% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Commonwealth Equity Services LLC increased its holdings in Raymond James by 30.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,153 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 1,677 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Raymond James by 16,498.1% in the second quarter. Bessemer Group Inc. now owns 35,520 shares of the financial services provider’s stock valued at $3,003,000 after buying an additional 35,306 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Raymond James by 715.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 28,820 shares of the financial services provider’s stock valued at $2,434,000 after buying an additional 25,286 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Raymond James by 3.6% in the second quarter. Arizona State Retirement System now owns 38,690 shares of the financial services provider’s stock valued at $3,271,000 after buying an additional 1,334 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Raymond James by 99.2% in the second quarter. Strs Ohio now owns 10,320 shares of the financial services provider’s stock valued at $872,000 after buying an additional 5,139 shares during the last quarter. 70.85% of the stock is 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.

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Analyst Recommendations for Raymond James (NYSE:RJF)

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