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Raymond James Financial, Inc. (RJF) Reports Q1 Earnings: What Key Metrics Have to Say
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Raymond James Financial, Inc. (RJF - Free Report) reported $3.01 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 8.2%. EPS of $2.40 for the same period compares to $2.29 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.99 billion, representing a surprise of +0.86%. The company delivered an EPS surprise of +6.67%, with the consensus EPS estimate being $2.25.
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, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Tier 1 Leverage Ratio: 12.1% versus the three-analyst average estimate of 12.4%.
Private Client Group assets in Fee-based Accounts: $746.60 million versus the two-analyst average estimate of $672.51 million.
Tier 1 Capital Ratio: 21.6% versus the two-analyst average estimate of 21.4%.
Total Capital Ratio: 23% compared to the 22.8% average estimate based on two analysts.
Net Revenues- Total brokerage revenues: $522 million compared to the $493.94 million average estimate based on five analysts. The reported number represents a change of +7.9% year over year.
Revenues- Interest income: $1.05 billion compared to the $1.02 billion average estimate based on five analysts. The reported number represents a change of +27.3% year over year.
Total Revenues- Other: $38 million versus the five-analyst average estimate of $46.29 million. The reported number represents a year-over-year change of -13.6%.
Revenues- Account and service fees: $319 million versus $307.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.4% change.
Revenues- Asset management and related administrative fees: $1.41 billion compared to the $1.42 billion average estimate based on five analysts. The reported number represents a change of +13.3% year over year.
Revenues- Investment banking: $181 million compared to the $166.21 million average estimate based on five analysts. The reported number represents a change of +28.4% year over year.
Principal transactions: $139 million versus the three-analyst average estimate of $110.75 million.
Revenues- Brokerage revenues- Securities Commissions and Fees: $383 million versus $381.35 million estimated by three analysts on average.
Shares of Raymond James Financial, Inc. have returned +0.7% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Raymond James Financial, Inc. (RJF) Reports Q1 Earnings: What Key Metrics Have to Say
Raymond James Financial, Inc. (RJF - Free Report) reported $3.01 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 8.2%. EPS of $2.40 for the same period compares to $2.29 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.99 billion, representing a surprise of +0.86%. The company delivered an EPS surprise of +6.67%, with the consensus EPS estimate being $2.25.
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, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Tier 1 Leverage Ratio: 12.1% versus the three-analyst average estimate of 12.4%.
- Private Client Group assets in Fee-based Accounts: $746.60 million versus the two-analyst average estimate of $672.51 million.
- Tier 1 Capital Ratio: 21.6% versus the two-analyst average estimate of 21.4%.
- Total Capital Ratio: 23% compared to the 22.8% average estimate based on two analysts.
- Net Revenues- Total brokerage revenues: $522 million compared to the $493.94 million average estimate based on five analysts. The reported number represents a change of +7.9% year over year.
- Revenues- Interest income: $1.05 billion compared to the $1.02 billion average estimate based on five analysts. The reported number represents a change of +27.3% year over year.
- Total Revenues- Other: $38 million versus the five-analyst average estimate of $46.29 million. The reported number represents a year-over-year change of -13.6%.
- Revenues- Account and service fees: $319 million versus $307.55 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.4% change.
- Revenues- Asset management and related administrative fees: $1.41 billion compared to the $1.42 billion average estimate based on five analysts. The reported number represents a change of +13.3% year over year.
- Revenues- Investment banking: $181 million compared to the $166.21 million average estimate based on five analysts. The reported number represents a change of +28.4% year over year.
- Principal transactions: $139 million versus the three-analyst average estimate of $110.75 million.
- Revenues- Brokerage revenues- Securities Commissions and Fees: $383 million versus $381.35 million estimated by three analysts on average.
View all Key Company Metrics for Raymond James Financial, Inc. here>>>Shares of Raymond James Financial, Inc. have returned +0.7% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.