Raymond James Financial Set to Release Q1 Earnings Amid Positive Market Trends
Raymond James Financial, Inc. (RJF), based in St. Petersburg, Florida, stands out as a major player in the financial services sector. With a market cap of $32.2 billion, the company offers an array of investment and wealth management solutions. Investors are keenly awaiting the release of its Q1 earnings, scheduled for after the market closes on Wednesday, Jan. 29.
Analysts Predict Strong Earnings Growth
Leading up to this earnings announcement, analysts are projecting that Raymond James will report a profit of $2.74 per share, marking a 14.2% increase from $2.40 per share in the same quarter last year. Historically, the company has outperformed Wall Street earnings estimates in three of the last four quarters, with one missed target.
Recent Performance Shows Promise
In its fiscal Q4, Raymond James reported an EPS of $2.95, exceeding consensus estimates by 20.9%. This quarterly success resulted from remarkable growth in investment banking, increased brokerage and asset management revenues, and strong financial performance that outstripped analyst expectations.
Future Earnings Expectations Show Steady Growth
Looking forward to fiscal 2025, analysts anticipate RJF will achieve an EPS of $10.94, representing an 8.9% rise from $10.05 in fiscal 2024. Additionally, EPS is projected to grow by 6% to $11.60 in fiscal 2026.
Impressive Stock Performance Over the Past Year
Over the last 52 weeks, RJF stock has rallied 42.7%, outperforming the S&P 500 Index’s ($SPX) 27.2% increase and the Financial Select Sector SPDR Fund’s (XLF) 28.3% gain.
Analyst Recommendations Suggest Cautious Optimism
Following the impressive Q4 earnings released on Oct. 23, during which RJF stock jumped 7.3%, market analysts’ consensus on RJF stock remains moderately optimistic. Out of 14 analysts, five recommend a “Strong Buy,” while nine suggest a “Hold” rating. The average price target for RJF stands at $158.08, indicating the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here. More news from Barchart
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