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Raymond James Financial (RJF) Reports Q3 Earnings: What Key Metrics Have to Say
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Raymond James Financial, Inc. (RJF - Free Report) reported $3.23 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 11%. EPS of $2.39 for the same period compares to $1.85 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.22 billion, representing a surprise of +0.28%. The company delivered an EPS surprise of +3.46%, with the consensus EPS estimate being $2.31.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 12.7% compared to the 12.7% average estimate based on three analysts.
Private Client Group assets in Fee-based Accounts: $820.60 million compared to the $811.70 million average estimate based on three analysts.
Total Capital Ratio: 23.6% versus the two-analyst average estimate of 23.8%.
Total Interest-Earning Assets: $73.50 billion versus the two-analyst average estimate of $73 billion.
Revenues- Asset management and related administrative fees: $1.61 billion versus the five-analyst average estimate of $1.60 billion. The reported number represents a year-over-year change of +17.3%.
Total Revenues- Other: $51 million versus the five-analyst average estimate of $34.87 million. The reported number represents a year-over-year change of -10.5%.
Revenues- Interest income: $1.06 billion versus $1.05 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.
Revenues- Account and service fees: $328 million versus $338.09 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24.2% change.
Revenues- Investment banking: $183 million versus the five-analyst average estimate of $182.36 million. The reported number represents a year-over-year change of +21.2%.
Net Revenues- Total brokerage revenues: $532 million compared to the $529.36 million average estimate based on five analysts. The reported number represents a change of +15.4% year over year.
Revenues- Brokerage revenues- Securities Commissions and Fees: $416 million versus $411.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.
Private Client Group- Asset Management and Related Administrative Fees: $1.36 billion versus $1.35 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.2% change.
Shares of Raymond James Financial have returned -8.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Raymond James Financial (RJF) Reports Q3 Earnings: What Key Metrics Have to Say
Raymond James Financial, Inc. (RJF - Free Report) reported $3.23 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 11%. EPS of $2.39 for the same period compares to $1.85 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $3.22 billion, representing a surprise of +0.28%. The company delivered an EPS surprise of +3.46%, with the consensus EPS estimate being $2.31.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 12.7% compared to the 12.7% average estimate based on three analysts.
- Private Client Group assets in Fee-based Accounts: $820.60 million compared to the $811.70 million average estimate based on three analysts.
- Total Capital Ratio: 23.6% versus the two-analyst average estimate of 23.8%.
- Total Interest-Earning Assets: $73.50 billion versus the two-analyst average estimate of $73 billion.
- Revenues- Asset management and related administrative fees: $1.61 billion versus the five-analyst average estimate of $1.60 billion. The reported number represents a year-over-year change of +17.3%.
- Total Revenues- Other: $51 million versus the five-analyst average estimate of $34.87 million. The reported number represents a year-over-year change of -10.5%.
- Revenues- Interest income: $1.06 billion versus $1.05 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.
- Revenues- Account and service fees: $328 million versus $338.09 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +24.2% change.
- Revenues- Investment banking: $183 million versus the five-analyst average estimate of $182.36 million. The reported number represents a year-over-year change of +21.2%.
- Net Revenues- Total brokerage revenues: $532 million compared to the $529.36 million average estimate based on five analysts. The reported number represents a change of +15.4% year over year.
- Revenues- Brokerage revenues- Securities Commissions and Fees: $416 million versus $411.51 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.
- Private Client Group- Asset Management and Related Administrative Fees: $1.36 billion versus $1.35 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +17.2% change.
View all Key Company Metrics for Raymond James Financial here>>>Shares of Raymond James Financial have returned -8.1% over the past month versus the Zacks S&P 500 composite's +1.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.