Royal Bank of Canada (RY) Receives $100.33 Average PT from Brokerages

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have received a consensus rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $100.33.

A number of research firms have weighed in on RY. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. ValuEngine upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Howard Weil upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th. Scotiabank upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 10th. Finally, Scotia Howard Weill upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th.

Several large investors have recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of Royal Bank of Canada by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 40,432 shares of the financial services provider’s stock valued at $3,044,000 after buying an additional 777 shares during the last quarter. Gradient Investments LLC grew its stake in shares of Royal Bank of Canada by 2.6% during the third quarter. Gradient Investments LLC now owns 30,875 shares of the financial services provider’s stock valued at $2,476,000 after buying an additional 796 shares during the last quarter. Chemical Bank grew its stake in shares of Royal Bank of Canada by 17.0% during the second quarter. Chemical Bank now owns 5,543 shares of the financial services provider’s stock valued at $417,000 after buying an additional 805 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Royal Bank of Canada by 12.1% during the third quarter. Raymond James Trust N.A. now owns 7,950 shares of the financial services provider’s stock valued at $638,000 after buying an additional 859 shares during the last quarter. Finally, Moloney Securities Asset Management LLC grew its stake in shares of Royal Bank of Canada by 32.4% during the third quarter. Moloney Securities Asset Management LLC now owns 3,898 shares of the financial services provider’s stock valued at $313,000 after buying an additional 953 shares during the last quarter. 40.06% of the stock is currently owned by hedge funds and other institutional investors.

NYSE RY traded up $0.22 during trading hours on Monday, reaching $73.42. 22,057 shares of the stock traded hands, compared to its average volume of 838,446. Royal Bank of Canada has a 1 year low of $71.01 and a 1 year high of $87.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $104.92 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 1.37 and a beta of 1.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Royal Bank of Canada had a return on equity of 18.11% and a net margin of 21.48%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.39 billion. On average, equities analysts expect that Royal Bank of Canada will post 6.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 25th will be paid a dividend of $0.753 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.73. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.17%.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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

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