Raymond James Q3 Earnings Crush Estimates on Broad-Based Growth
RJF sits 21% above its 52-week low of $138.82.
Summary
Raymond James delivered a strong fiscal Q3 beat, with adjusted EPS of $3.14 topping the $2.93 consensus and net revenue of $3.93B exceeding the $3.87B estimate. Every segment contributed, led by a 25% surge in capital markets and 14% growth in the private client group, where fee-based assets hit a record. This follows the 8-K filed earlier today and builds on the momentum from the recent Imperial Capital fixed income acquisition announced two days ago. The results reinforce the firm's ability to drive organic growth across wealth management and investment banking. With shares at $168 and a $32.7B market cap, the beat is material and likely to support positive price action.
At the time of this announcement, RJF was trading at $168.01 on NYSE in the Finance sector, with a market capitalization of approximately $32.7B. The 52-week trading range was $138.82 to $177.66. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.