Royal Bank of Canada (TSE:RY) Price Target Raised to C$231.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Scotiabank from C$218.00 to C$231.00 in a research report report published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.

Several other equities analysts have also commented on the stock. TD Securities upped their price target on shares of Royal Bank of Canada from C$208.00 to C$215.00 in a research report on Monday, November 10th. Barclays upped their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday. CIBC lifted their target price on Royal Bank of Canada from C$208.00 to C$220.00 in a report on Wednesday, November 19th. Desjardins upped their price target on Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Raymond James Financial lifted their price objective on Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$224.23.

Royal Bank of Canada Trading Up 0.3%

Shares of TSE:RY opened at C$224.72 on Thursday. The firm has a market cap of C$316.92 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 3.42 and a beta of 1.29. The stock’s 50-day moving average price is C$207.89 and its two-hundred day moving average price is C$193.03. Royal Bank of Canada has a 12-month low of C$151.25 and a 12-month high of C$225.48.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The company had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. As a group, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 24th were paid a dividend of $1.54 per share. The ex-dividend date was Monday, October 27th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.7%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 44.78%.

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.