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

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $193.00.

Several research firms have recently commented on RY. 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 reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. National Bank Financial cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Finally, Scotiabank initiated coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They set a “sector outperform” rating on the stock.

Royal Bank Of Canada Price Performance

NYSE RY opened at $129.94 on Thursday. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $134.26. The firm has a market capitalization of $182.66 billion, a P/E ratio of 14.44, a PEG ratio of 1.47 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $129.84 and a 200-day moving average price of $122.04.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The business had revenue of $11.38 billion for the quarter, compared to analysts’ expectations of $15.77 billion. During the same period in the previous year, the company earned $2.92 EPS. Royal Bank Of Canada’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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. This represents a $4.46 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 50.33%.

Institutional Trading of Royal Bank Of Canada

Institutional investors have recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter worth about $25,000. Sunbelt Securities Inc. grew its position in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the first quarter worth about $32,000. Optiver Holding B.V. purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth about $35,000. Finally, Transce3nd LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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.