Raymond James is a solid asset management and brokerage firm, but it is less exposed to the current resurgence in dealmaking and megadeals for Q4. RJF's investment banking is mid-market focused, missing out on the uptick in sponsor and megadeal activity, benefiting firms like Moelis and Lazard. At a blended 16x PE, RJF is attractive, but LAZ offers greater upside due to its stronger advisory franchise and exposure to dealmaking recovery at similar multiples.
RJF boosts dividends and buybacks while maintaining strong liquidity to fund growth and sustain shareholder returns.
Raymond James Financial (RJF) reported earnings 30 days ago. What's next for the stock?
Raymond James Financial, Inc. (RJF) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, RJF's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
Raymond James misses fiscal Q3 earnings expectations due to a $58M legal reserve. On the other hand, trading and IB strength help lift revenues.
Raymond James Financial's fundamentals remain strong, with higher AUM and resilient net interest income despite recent earnings noise from a one-time legal reserve. Client cash outflows and potential Fed rate cuts are key risks, but capital returns and a robust balance sheet provide meaningful downside protection. A strong Q4 is expected as rising markets boost advisory revenue and ongoing buybacks enhance shareholder value given excess capital.
I maintain a hold rating on RJF after evaluating the company's recent performance and its prospects over a longer time horizon. RJF's Q3 FY25 bottom-line miss was driven by a non-recurring legal-related reserve and the Capital Markets segment's weaker-than-expected growth. But the firm is well-placed to meet its FY2030 topline goal, taking into account the share gain potential for specific business units like Private Client Group.
Raymond James Financial, Inc. (NYSE:RJF ) Q3 2025 Earnings Conference Call July 23, 2025 5:00 PM ET Company Participants Jonathan W. Oorlog - Senior VP, CFO & Controller Kristina Waugh - Senior Vice President of Investor Relations and FP&A Paul Christopher Reilly - Corporate Participant Executive Chair - Corporate Participant Paul Marone Shoukry - CEO & Director Conference Call Participants Alexander Blostein - Goldman Sachs Group, Inc., Research Division Daniel Thomas Fannon - Jefferies LLC, Research Division Devin Patrick Ryan - Citizens JMP Securities, LLC, Research Division James Francis Mitchell - Seaport Research Partners Kyle Kenneth Voigt - Keefe, Bruyette, & Woods, Inc., Research Division Michael Cho - JPMorgan Chase & Co, Research Division Michael J.
Although the revenue and EPS for Raymond James Financial (RJF) give a sense of how its business performed in the quarter ended June 2025, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Raymond James Financial, Inc. (RJF) came out with quarterly earnings of $2.18 per share, missing the Zacks Consensus Estimate of $2.37 per share. This compares to earnings of $2.39 per share a year ago.
Beyond analysts' top-and-bottom-line estimates for Raymond James Financial (RJF), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2025.
Raymond James' Q3 earnings may have dipped slightly, but rising trading and IB fees are likely to have lifted overall revenue growth.