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.
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