Royal Bank Of Canada (NYSE:RY) Receives $193.00 Consensus Target Price from Brokerages

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $193.00.

A number of equities analysts have recently commented on RY shares. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Wall Street Zen lowered shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. CIBC reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank began coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They set a “sector outperform” rating for the company. Finally, National Bank Financial cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report on Friday, May 30th.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds have recently bought and sold shares of RY. Park Square Financial Group LLC purchased a new position in shares of Royal Bank Of Canada in the fourth quarter worth about $25,000. Roxbury Financial LLC purchased a new position in Royal Bank Of Canada in the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank Of Canada in the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. lifted its position in Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the first quarter valued at approximately $32,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.7%

NYSE:RY opened at $127.97 on Wednesday. Royal Bank Of Canada has a 1 year low of $102.52 and a 1 year high of $130.00. The stock’s fifty day moving average price is $122.48 and its two-hundred day moving average price is $119.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market cap of $180.51 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.48 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The company had revenue of $11.38 billion for the quarter, compared to analysts’ expectations of $15.77 billion. During the same period last year, the company posted $2.92 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.49%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.67%.

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 checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.