Canaccord Genuity Lowers Royal Bank of Canada (RY) Price Target to C$105.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lowered by Canaccord Genuity from C$108.00 to C$105.00 in a research note published on Wednesday morning, BayStreet.CA reports.

Separately, Desjardins upped their price target on shares of Royal Bank of Canada from C$108.00 to C$111.00 in a research note on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Royal Bank of Canada presently has a consensus rating of Hold and an average target price of C$110.20.

Shares of RY opened at C$105.12 on Wednesday. The stock has a market capitalization of $150.88 billion and a PE ratio of 12.37. Royal Bank of Canada has a fifty-two week low of C$90.10 and a fifty-two week high of C$107.91.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Friday, February 22nd. The financial services provider reported C$2.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$2.19. The company had revenue of C$11.59 billion during the quarter, compared to the consensus estimate of C$10.93 billion. On average, sell-side analysts predict that Royal Bank of Canada will post 9.61999942495645 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.02 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 annualized dividend and a dividend yield of 3.88%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.17%.

In other Royal Bank of Canada news, Director David Ian Mckay sold 8,259 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of C$101.65, for a total transaction of C$839,492.66. Following the sale, the director now directly owns 5,873 shares in the company, valued at C$596,965.78. Also, Senior Officer Helena Gottschling sold 882 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of C$107.00, for a total transaction of C$94,377.97. Following the sale, the insider now owns 1,415 shares in the company, valued at C$151,411.37. Insiders sold 38,895 shares of company stock worth $4,015,255 over the last 90 days.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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