Q3 2017 EPS Estimates for Royal Bank of Canada Lifted by Analyst (RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Stock analysts at National Bank Financial lifted their Q3 2017 earnings per share estimates for shares of Royal Bank of Canada in a research report issued to clients and investors on Thursday. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $1.35 for the quarter, up from their previous estimate of $1.34. National Bank Financial currently has a “Sector Perform Overweight” rating on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.35 EPS, FY2017 earnings at $5.52 EPS, Q1 2018 earnings at $1.44 EPS, Q3 2018 earnings at $1.43 EPS, Q4 2018 earnings at $1.51 EPS and FY2018 earnings at $5.85 EPS.

Royal Bank of Canada (NYSE:RY) last issued its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.08. Royal Bank of Canada had a net margin of 22.15% and a return on equity of 16.21%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $6.88 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share.

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Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)

RY has been the topic of several other research reports. TD Securities upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Wednesday, February 22nd. TheStreet upgraded Royal Bank of Canada from a “c” rating to a “b-” rating in a research report on Monday, January 30th. Zacks Investment Research upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Wednesday, February 15th. Finally, Keefe, Bruyette & Woods upgraded Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research report on Monday, February 27th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus target price of $85.63.

Royal Bank of Canada (NYSE:RY) opened at 69.79 on Monday. The stock has a market cap of $101.68 billion, a P/E ratio of 12.94 and a beta of 1.19. The firm’s 50-day moving average is $69.63 and its 200 day moving average is $70.07. Royal Bank of Canada has a one year low of $57.01 and a one year high of $76.01.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be given a dividend of $0.6439 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $2.58 dividend on an annualized basis and a dividend yield of 3.69%. Royal Bank of Canada’s dividend payout ratio (DPR) is 49.90%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Welch Group LLC acquired a new position in shares of Royal Bank of Canada during the first quarter worth about $101,000. Quadrant Capital Group LLC raised its position in shares of Royal Bank of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock worth $108,000 after buying an additional 188 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Royal Bank of Canada during the first quarter worth about $123,000. Proficio Capital Partners LLC raised its position in shares of Royal Bank of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,167 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Royal Bank of Canada during the third quarter worth about $180,000. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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