Cormark Cuts Earnings Estimates for Royal Bank of Canada

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at Cormark dropped their FY2026 earnings per share estimates for Royal Bank of Canada in a research report issued to clients and investors on Friday, May 30th. Cormark analyst L. Persaud now forecasts that the financial services provider will earn $14.20 per share for the year, down from their prior forecast of $14.30. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

A number of other equities research analysts also recently issued reports on the company. Scotiabank upgraded Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Jefferies Financial Group reduced their price target on Royal Bank of Canada from C$195.00 to C$180.00 in a report on Monday, April 21st. UBS Group reduced their price target on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd. Finally, National Bank Financial downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$180.33.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$174.93 on Monday. Royal Bank of Canada has a 1 year low of C$140.53 and a 1 year high of C$180.45. The stock’s 50 day simple moving average is C$166.20 and its two-hundred day simple moving average is C$169.54. The company has a market cap of C$247.53 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a dividend of $1.54 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a yield of 3.52%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.49%.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$3,254,042.89. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$49,862.12. Insiders have sold 62,330 shares of company stock worth $10,312,755 in the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.