Raymond James Given Consensus Recommendation of “Buy” by Brokerages (NYSE:RJF)
Raymond James (NYSE:RJF) has received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Analyst Ratings News reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $56.00.
RJF has been the subject of a number of recent research reports. Analysts at Susquehanna upgraded shares of Raymond James from a “neutral” rating to a “positive” rating in a research note on Thursday, July 31st. They now have a $62.00 price target on the stock, up previously from $56.00. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Raymond James in a research note on Friday, July 25th. They now have a $55.00 price target on the stock, up previously from $53.00. Finally, analysts at Nomura raised their price target on shares of Raymond James from $59.00 to $60.00 in a research note on Wednesday, July 9th.
Shares of Raymond James (NYSE:RJF) opened at 54.09 on Monday. Raymond James has a 52-week low of $40.01 and a 52-week high of $56.32. The stock’s 50-day moving average is $50.95 and its 200-day moving average is $50.94. The company has a market cap of $7.587 billion and a price-to-earnings ratio of 16.88.
Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $0.65 earnings per share. Raymond James’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that Raymond James will post $3.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, September 29th.
In other Raymond James news, CFO Jeffrey P. Julien sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $51.72, for a total transaction of $517,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Raymond James Financial, Inc (NYSE:RJF) is a financial holding company.
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