We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Raymond James Financial (RJF) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
For the quarter ended March 2024, Raymond James Financial, Inc. (RJF - Free Report) reported revenue of $3.12 billion, up 8.5% over the same period last year. EPS came in at $2.31, compared to $2.03 in the year-ago quarter.
The reported revenue represents no surprise over the Zacks Consensus Estimate of $3.12 billion. With the consensus EPS estimate being $2.32, the EPS surprise was -0.43%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Raymond James Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Tier 1 Leverage Ratio: 12.3% versus 12.4% estimated by three analysts on average.
Private Client Group assets in Fee-based Accounts: $798.80 million compared to the $751.70 million average estimate based on two analysts.
Tier 1 Capital Ratio: 21.9% versus the two-analyst average estimate of 21.9%.
Total Capital Ratio: 23.3% versus 23.2% estimated by two analysts on average.
Net Revenues- Total brokerage revenues: $528 million versus $519.42 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
Revenues- Interest income: $1.05 billion versus the five-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of +14.6%.
Total Revenues- Other: $31 million versus the five-analyst average estimate of $40.16 million. The reported number represents a year-over-year change of -3.1%.
Revenues- Account and service fees: $335 million versus $316.81 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +29.8% change.
Revenues- Asset management and related administrative fees: $1.52 billion compared to the $1.51 billion average estimate based on five analysts. The reported number represents a change of +16.4% year over year.
Revenues- Investment banking: $179 million compared to the $181.66 million average estimate based on five analysts. The reported number represents a change of +16.2% year over year.
Principal transactions: $114 million versus $122.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.2% change.
Revenues- Brokerage revenues- Securities Commissions and Fees: $414 million versus the three-analyst average estimate of $390.94 million. The reported number represents a year-over-year change of +12.2%.
Shares of Raymond James Financial have returned +1.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Raymond James Financial (RJF) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Raymond James Financial, Inc. (RJF - Free Report) reported revenue of $3.12 billion, up 8.5% over the same period last year. EPS came in at $2.31, compared to $2.03 in the year-ago quarter.
The reported revenue represents no surprise over the Zacks Consensus Estimate of $3.12 billion. With the consensus EPS estimate being $2.32, the EPS surprise was -0.43%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Raymond James Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Tier 1 Leverage Ratio: 12.3% versus 12.4% estimated by three analysts on average.
- Private Client Group assets in Fee-based Accounts: $798.80 million compared to the $751.70 million average estimate based on two analysts.
- Tier 1 Capital Ratio: 21.9% versus the two-analyst average estimate of 21.9%.
- Total Capital Ratio: 23.3% versus 23.2% estimated by two analysts on average.
- Net Revenues- Total brokerage revenues: $528 million versus $519.42 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change.
- Revenues- Interest income: $1.05 billion versus the five-analyst average estimate of $1.03 billion. The reported number represents a year-over-year change of +14.6%.
- Total Revenues- Other: $31 million versus the five-analyst average estimate of $40.16 million. The reported number represents a year-over-year change of -3.1%.
- Revenues- Account and service fees: $335 million versus $316.81 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +29.8% change.
- Revenues- Asset management and related administrative fees: $1.52 billion compared to the $1.51 billion average estimate based on five analysts. The reported number represents a change of +16.4% year over year.
- Revenues- Investment banking: $179 million compared to the $181.66 million average estimate based on five analysts. The reported number represents a change of +16.2% year over year.
- Principal transactions: $114 million versus $122.13 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -10.2% change.
- Revenues- Brokerage revenues- Securities Commissions and Fees: $414 million versus the three-analyst average estimate of $390.94 million. The reported number represents a year-over-year change of +12.2%.
View all Key Company Metrics for Raymond James Financial here>>>Shares of Raymond James Financial have returned +1.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.