Raymond James Financial, Inc. (RJF) has been witnessing a rollercoaster run lately in the stock market. Despite a 25% surge in stocks, analysts warn that low P/E can't be the sole reason for enthusiasm. The company's stocks have underperformed when compared to competitors on certain days, while providing daily gains on others. However, noticeably, the stocks went up by 4.62% within a week. Notwithstanding, there has been some selling of RJF stocks by firms like
Geneva Capital Management LLC. On the bright side, RJF stocks saw a 7% jump buoyed by financial results beating estimates, which includes record revenues and robust yearly earnings reported for fiscal 2024. The company’s Q4 earnings and key metrics also auspiciously compared to Wall Street estimates. Investment firms like
Sumitomo Mitsui Trust Group Inc. and asset managers like
Principal Financial Group Inc. raised their stake in RJF, deeming it a strong value stock. However, there’s still some skepticism due to emerging risks, as shown by an analyst cutting the company’s rating. Still, the company established as a
standout among big-cap stocks, while benefiting from thriving wealth management operations and solid investment banking business.
RJF share price has even risen due to substantial institutional ownership and a promising sales and earnings beat. Despite a few cases of stocks being sold off, some consider RJF a solid long-term investment.
Raymond James Financial RJF News Analytics from Tue, 10 Oct 2023 07:00:00 GMT to Fri, 15 Nov 2024 22:00:00 GMT -
