Royal Bank Of Canada (NYSE:RY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $225.00.

Several research firms have commented on RY. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $203.00 on Friday. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $204.82. The company’s 50 day moving average price is $188.63 and its two-hundred day moving average price is $175.03. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market cap of $282.12 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.61 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the firm earned $3.12 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Institutional Trading of Royal Bank Of Canada

Several hedge funds have recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd bought a new stake in Royal Bank Of Canada in the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in Royal Bank Of Canada in the fourth quarter worth about $26,000. Key Financial Inc raised its stake in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Royal Bank Of Canada in the third quarter worth about $27,000. Finally, Maseco LLP raised its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.