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Strength Seen in Raymond James Financial (RJF): Can Its 9.2% Jump Turn into More Strength?
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Raymond James Financial, Inc. (RJF - Free Report) shares soared 9.2% in the last trading session to close at $136.28. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.6% loss over the past four weeks.
Raymond James shares rallied sharply, benefiting from broad market strength following President Donald Trump’s announcement of a 90-day suspension on tariffs for non-retaliating countries. The policy shift eased trade tensions and improved market sentiment, fueling a sharp uptick in RJF stock.
This company is expected to post quarterly earnings of $2.48 per share in its upcoming report, which represents a year-over-year change of +7.4%. Revenues are expected to be $3.45 billion, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Raymond James Financial, the consensus EPS estimate for the quarter has been revised 4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RJF going forward to see if this recent jump can turn into more strength down the road.
Raymond James Financial belongs to the Zacks Financial - Investment Bank industry. Another stock from the same industry, Robinhood Markets, Inc. (HOOD - Free Report) , closed the last trading session 23.5% higher at $42.21. Over the past month, HOOD has returned -6%.
For Robinhood Markets, the consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.35. This represents a change of +94.4% from what the company reported a year ago. Robinhood Markets currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Raymond James Financial (RJF): Can Its 9.2% Jump Turn into More Strength?
Raymond James Financial, Inc. (RJF - Free Report) shares soared 9.2% in the last trading session to close at $136.28. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 10.6% loss over the past four weeks.
Raymond James shares rallied sharply, benefiting from broad market strength following President Donald Trump’s announcement of a 90-day suspension on tariffs for non-retaliating countries. The policy shift eased trade tensions and improved market sentiment, fueling a sharp uptick in RJF stock.
This company is expected to post quarterly earnings of $2.48 per share in its upcoming report, which represents a year-over-year change of +7.4%. Revenues are expected to be $3.45 billion, up 10.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Raymond James Financial, the consensus EPS estimate for the quarter has been revised 4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on RJF going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Raymond James Financial belongs to the Zacks Financial - Investment Bank industry. Another stock from the same industry, Robinhood Markets, Inc. (HOOD - Free Report) , closed the last trading session 23.5% higher at $42.21. Over the past month, HOOD has returned -6%.
For Robinhood Markets, the consensus EPS estimate for the upcoming report has changed -0.6% over the past month to $0.35. This represents a change of +94.4% from what the company reported a year ago. Robinhood Markets currently has a Zacks Rank of #2 (Buy).