Royal Bank of Canada (NYSE:RY) Receives Average Rating of “Hold” from Brokerages

Royal Bank of Canada (NYSE:RY) (TSE:RY) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $103.67.

Several research analysts have recently weighed in on the company. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Saturday, July 13th. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Finally, Desjardins reaffirmed a “hold” rating on shares of Choice Properties REIT in a research report on Thursday, May 16th.

Large investors have recently bought and sold shares of the business. TD Asset Management Inc. lifted its position in Royal Bank of Canada by 1.3% during the first quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock valued at $2,829,072,000 after acquiring an additional 491,062 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Royal Bank of Canada by 10.4% in the 1st quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock worth $1,481,311,000 after acquiring an additional 1,853,129 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Royal Bank of Canada by 0.3% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 17,339,886 shares of the financial services provider’s stock worth $1,308,186,000 after acquiring an additional 57,822 shares in the last quarter. Norges Bank bought a new position in shares of Royal Bank of Canada in the 4th quarter worth about $1,021,258,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Royal Bank of Canada by 1.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 12,876,450 shares of the financial services provider’s stock worth $968,742,000 after acquiring an additional 128,337 shares in the last quarter. 41.56% of the stock is owned by institutional investors and hedge funds.

RY traded up $0.20 during trading hours on Friday, hitting $80.09. 33,767 shares of the stock were exchanged, compared to its average volume of 862,369. The stock has a 50-day simple moving average of $78.60. Royal Bank of Canada has a 12 month low of $65.76 and a 12 month high of $81.56. The firm has a market capitalization of $114.64 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 2.09 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.04. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $7.60 billion. During the same period in the previous year, the business posted $2.06 earnings per share. As a group, equities research analysts anticipate that Royal Bank of Canada will post 6.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a $0.7596 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, July 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.86%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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