Royal Bank of Canada (TSE:RY) Given Consensus Rating of “Hold” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$95.00.

A number of research analysts have weighed in on the stock. TD Securities reaffirmed a “buy” rating on shares of Royal Bank of Canada in a research note on Monday, April 3rd. National Bank Financial reaffirmed a “sector perform” rating and issued a C$99.00 price objective on shares of Royal Bank of Canada in a research note on Friday, May 26th. Finally, Scotiabank increased their target price on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an “outperform” rating in a report on Friday, May 26th.

Shares of Royal Bank of Canada (TSE RY) opened at 94.90 on Tuesday. Royal Bank of Canada has a 52 week low of $76.99 and a 52 week high of $99.90. The firm has a market capitalization of $138.26 billion and a price-to-earnings ratio of 12.92. The firm has a 50-day moving average of $93.62 and a 200 day moving average of $94.74.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a $0.87 dividend. The ex-dividend date is Monday, July 24th. This represents a $3.48 annualized dividend and a dividend yield of 3.67%.

In related news, insider Jennifer Anne Tory sold 355 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of C$95.98, for a total transaction of C$34,072.90. Also, Director David Ian Mckay sold 3,578 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of C$95.95, for a total transaction of C$343,309.10. In the last quarter, insiders sold 42,561 shares of company stock valued at $3,964,255.

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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.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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