Royal Bank of Canada (TSE:RY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$95.00.

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

In related news, Director David Ian Mckay sold 5,352 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of C$93.65, for a total value of C$501,214.80. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total value of C$2,783,700.00. In the last 90 days, insiders have sold 44,340 shares of company stock worth $4,121,794.

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Shares of Royal Bank of Canada (TSE RY) opened at 93.89 on Tuesday. Royal Bank of Canada has a 52 week low of $78.24 and a 52 week high of $99.90. The company has a market capitalization of $136.79 billion and a PE ratio of 12.78. The company’s 50 day moving average is $94.31 and its 200-day moving average is $95.07.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be given a dividend of $0.87 per share. The ex-dividend date is Monday, July 24th. This represents a $3.48 annualized dividend and a dividend yield of 3.71%.

About Royal Bank of Canada

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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