Raymond James Financial Earnings Preview: What to Expect

Company Overview - Raymond James Financial, Inc. (RJF) has a market cap of $27.9 billion and operates as a diversified financial services firm providing wealth management, investment banking, asset management, and banking solutions across the U.S., Canada, and Europe [1] Upcoming Earnings - The company is set to announce its fiscal Q2 2026 results on April 22, with analysts forecasting an adjusted EPS of $2.92, representing a 20.7% increase from $2.42 in the same quarter last year [2] Financial Performance - For fiscal 2026, analysts expect an adjusted EPS of $11.95, up 12.1% from $10.66 in fiscal 2025, and a further growth to $13.56 in fiscal 2027, reflecting a year-over-year increase of 13.5% [3] - In Q1 2026, capital markets revenue fell by 21% to $380 million, indicating weakness in the investment banking sector, particularly in mergers and acquisitions and advisory revenue [4] - Despite the decline in capital markets revenue, asset management revenue rose by 11% to $326 million, and private client group revenue increased by 9% to $2.77 billion [4] - Profit decreased to $562 million ($2.79 per share) from $599 million ($2.86 per share), while non-interest expenses rose by 8% to $3.01 billion [5] Stock Performance - Over the past 52 weeks, shares of Raymond James Financial have dropped marginally, underperforming the S&P 500 Index's 11.9% increase, but showing a smaller decline compared to the State Street Financial Select Sector SPDR ETF's 4.7% decrease [3] - Analysts maintain a cautiously optimistic view on the stock with a "Moderate Buy" rating; among 15 analysts, five recommend "Strong Buy" and ten "Holds" [5] - The average analyst price target for Raymond James Financial is $185.85, indicating a potential upside of 31.5% from current levels [5]