Royal Bank of Canada Forecasted to Earn FY2018 Earnings of $8.44 Per Share (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities researchers at Cormark issued their FY2018 earnings per share estimates for shares of Royal Bank of Canada in a report released on Thursday, August 23rd. Cormark analyst M. Grauman forecasts that the financial services provider will post earnings of $8.44 per share for the year.

Several other research analysts have also recently weighed in on RY. Scotiabank reduced their price target on Royal Bank of Canada from C$112.00 to C$110.00 and set a “sector perform” rating for the company in a research report on Friday, May 25th. Eight Capital lifted their price target on Royal Bank of Canada from C$118.00 to C$119.00 in a research report on Friday, May 25th. National Bank Financial upgraded Royal Bank of Canada from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Sunday, June 3rd. CIBC reduced their price target on Royal Bank of Canada from C$114.00 to C$109.00 in a research report on Monday, June 11th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$106.00 price target on shares of Royal Bank of Canada in a research report on Monday, June 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$111.80.

Royal Bank of Canada stock opened at C$103.96 on Monday. Royal Bank of Canada has a 52 week low of C$90.13 and a 52 week high of C$108.52.

In other news, Director David Ian Mckay sold 10,282 shares of the business’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of C$100.69, for a total value of C$1,035,294.58. Also, insider Alex Douglas Mcgregor sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of C$99.25, for a total value of C$1,488,750.00. Over the last quarter, insiders have purchased 900 shares of company stock valued at $68,844 and have sold 59,085 shares valued at $5,966,257.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Thursday, October 25th will be given a dividend of $0.98 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.92 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, October 24th.

About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Featured Article: Earnings Per Share (EPS)

Earnings History and Estimates for Royal Bank of Canada (TSE:RY)

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