FY2018 EPS Estimates for Royal Bank of Canada Boosted by Analyst (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at Cormark increased their FY2018 earnings per share (EPS) estimates for Royal Bank of Canada in a research report issued on Friday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings per share of $8.42 for the year, up from their prior forecast of $8.33. Cormark also issued estimates for Royal Bank of Canada’s FY2019 earnings at $8.97 EPS.

A number of other research firms also recently commented on RY. CSFB increased their price objective on Royal Bank of Canada from C$108.00 to C$114.00 in a report on Friday, January 19th. National Bank Financial increased their price objective on Royal Bank of Canada from C$105.00 to C$107.00 and gave the company a “sector perform” rating in a report on Friday, January 12th. CIBC downgraded Royal Bank of Canada from an “outperform” rating to a “neutral” rating and increased their price objective for the company from C$113.00 to C$114.00 in a report on Thursday, February 1st. Eight Capital raised Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their target price for the company from C$107.00 to C$113.00 in a research report on Monday, December 11th. Finally, Citigroup upped their target price on Royal Bank of Canada from C$118.00 to C$120.00 in a research report on Tuesday, December 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of C$108.17.

Royal Bank of Canada (TSE:RY) traded down C$0.45 on Monday, hitting C$100.03. The stock had a trading volume of 297,932 shares, compared to its average volume of 2,595,189. Royal Bank of Canada has a fifty-two week low of C$90.13 and a fifty-two week high of C$108.52. The stock has a market cap of $146,790.00, a P/E ratio of 13.29 and a beta of 0.71.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, November 29th. The financial services provider reported C$1.92 EPS for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.63% and a net margin of 26.20%.

In related news, Director Jeffery William Yabuki acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was bought at an average cost of C$79.63 per share, with a total value of C$79,630.00. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of C$101.73, for a total value of C$753,107.19. Over the last three months, insiders sold 13,835 shares of company stock valued at $1,448,535.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a $0.91 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.64%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.03%.

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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.

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

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