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With a market cap of $29.6 billion, Raymond James Financial, Inc. (RJF) is a diversified financial services company offering a broad range of investment, banking, and advisory services to individuals, corporations, and institutions across the United States, Canada, and Europe. The company operates through multiple subsidiaries providing wealth management, capital markets, asset management, and banking solutions.
The Saint Petersburg, Florida-based company's shares have outperformed the broader market over the past 52 weeks. RJF has increased 17.7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 9.9%. However, shares of Raymond James Financial are down 6.5% on a YTD basis, lagging behind SPX’s 1.6% drop.
In addition, Raymond James Financial has also lagged behind the Financial Select Sector SPDR Fund’s (XLF) 20.7% return over the past 52 weeks.
Shares of Raymond James rose 1.4% following its Q2 2025 earnings release on Apr. 23 due to a 5% growth in adjusted earnings per share to $2.42, despite missing estimates by a small margin. Strong revenue growth in key segments - Private Client Group, Asset Management, and Capital Markets, helped offset weaker investment banking results.
For the current fiscal year, ending in September 2025, analysts expect RJF’s adjusted EPS to grow 2.5% year-over-year to $10.30. The company’s earnings surprise history is mixed. It beat the consensus estimates in three of the last four quarters while missing on another occasion.
Among the 15 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on five “Strong Buy” ratings and 10 “Holds.”
This configuration is slightly less bullish than three months ago, with six “Strong Buy” ratings on the stock.
On May 20, Morgan Stanley analyst Michael Cyprys raised Raymond James' price target to $136, maintaining an “Equal Weight” rating. The firm also increased its 2025 and 2026 EPS estimates by 8% and 12%, respectively, based on improved brokerage and interest income forecasts.
As of writing, RJF is trading below the mean price target of $157.78. The Street-high price target of $185 implies a potential upside of 27.4% from the current price levels.
