Raymond James Receives Consensus Rating of “Buy” from Analysts (NYSE:RJF)
Raymond James (NYSE:RJF) has earned an average rating of “Buy” from the eight analysts that are covering the stock, Analyst Ratings News reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $56.00.
Shares of Raymond James (NYSE:RJF) opened at 54.35 on Monday. Raymond James has a 52-week low of $40.01 and a 52-week high of $56.32. The stock has a 50-day moving average of $51. and a 200-day moving average of $51.11. The company has a market cap of $7.624 billion and a P/E ratio of 16.94. Raymond James also was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 2,010,113 shares, an increase of 99.9% from the July 31st total of 1,005,331 shares. Based on an average daily trading volume, of 558,182 shares, the short-interest ratio is presently 3.6 days. Approximately 1.6% of the shares of the stock are short sold.
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. On average, analysts predict that Raymond James will post $3.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders 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, COO Dennis W. Zank sold 9,430 shares of the company’s stock on the open market in a transaction dated Friday, August 22nd. The stock was sold at an average price of $54.32, for a total value of $512,237.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on RJF. 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.
Raymond James Financial, Inc (NYSE:RJF) is a financial holding company.
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