Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target boosted by National Bank Financial from C$105.00 to C$107.00 in a report published on Friday. They currently have a sector perform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q2 2018 earnings at $2.03 EPS and Q3 2018 earnings at $2.10 EPS.
A number of other research analysts have also recently issued reports on the company. CSFB lifted their price objective on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an outperform rating in a research note on Thursday, November 30th. BMO Capital Markets lifted their price objective on Royal Bank of Canada from C$100.00 to C$102.00 and gave the company a market perform rating in a research note on Thursday, November 30th. Canaccord Genuity lifted their price objective on Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. Eight Capital lifted their price objective on Royal Bank of Canada from C$105.00 to C$107.00 in a research note on Thursday, November 30th. Finally, Desjardins lifted their price objective on Royal Bank of Canada from C$108.00 to C$109.00 in a research note on Thursday, November 30th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Royal Bank of Canada presently has a consensus rating of Hold and an average target price of C$107.58.
Shares of Royal Bank of Canada (TSE:RY) opened at C$105.26 on Friday. Royal Bank of Canada has a 1 year low of C$90.13 and a 1 year high of C$106.06. The firm has a market capitalization of $153,730.00, a P/E ratio of 13.92 and a beta of 0.72.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.52% and a net margin of 28.00%.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio is currently 46.03%.
In other Royal Bank of Canada news, Director Jeffery William Yabuki purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was purchased at an average price of C$79.63 per share, for a total transaction of C$79,630.00. Also, insider Jennifer Anne Tory sold 344 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of C$101.55, for a total value of C$34,933.20. Insiders sold 18,795 shares of company stock valued at $1,907,804 in the last 90 days.
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Royal Bank of Canada Company Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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