$1.64 EPS Expected for Royal Bank of Canada (RY) This Quarter

Brokerages expect Royal Bank of Canada (NYSE:RY) (TSE:RY) to post earnings of $1.64 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Royal Bank of Canada’s earnings, with the lowest EPS estimate coming in at $1.61 and the highest estimate coming in at $1.68. Royal Bank of Canada posted earnings per share of $1.42 during the same quarter last year, which suggests a positive year-over-year growth rate of 15.5%. The business is scheduled to report its next quarterly earnings report on Thursday, May 24th.

According to Zacks, analysts expect that Royal Bank of Canada will report full year earnings of $6.63 per share for the current year, with EPS estimates ranging from $6.56 to $6.69. For the next year, analysts forecast that the company will report earnings of $7.08 per share, with EPS estimates ranging from $6.99 to $7.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Royal Bank of Canada.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Friday, February 23rd. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.15. Royal Bank of Canada had a net margin of 21.64% and a return on equity of 17.60%. The company had revenue of $10.83 billion for the quarter, compared to the consensus estimate of $9.98 billion. During the same period in the previous year, the business earned $1.83 EPS. The company’s revenue was up 12.3% on a year-over-year basis.

RY has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Bank of America raised shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 30th. CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 1st. Argus boosted their target price on shares of Royal Bank of Canada to $94.00 and gave the company a “buy” rating in a research note on Friday, January 5th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $97.60.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in shares of Royal Bank of Canada by 273.2% in the fourth quarter. Mackenzie Financial Corp now owns 23,581,923 shares of the financial services provider’s stock worth $1,925,464,000 after acquiring an additional 17,263,862 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Royal Bank of Canada by 0.5% in the fourth quarter. CIBC World Markets Inc. now owns 22,552,306 shares of the financial services provider’s stock worth $1,841,396,000 after acquiring an additional 109,238 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Royal Bank of Canada by 72.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 13,820,450 shares of the financial services provider’s stock worth $1,128,440,000 after acquiring an additional 5,799,705 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Royal Bank of Canada by 1.2% in the fourth quarter. Acadian Asset Management LLC now owns 6,823,428 shares of the financial services provider’s stock worth $559,020,000 after acquiring an additional 79,345 shares during the last quarter. Finally, Scotia Capital Inc. increased its stake in shares of Royal Bank of Canada by 1.4% in the fourth quarter. Scotia Capital Inc. now owns 6,177,474 shares of the financial services provider’s stock worth $504,469,000 after acquiring an additional 85,032 shares during the last quarter. 41.32% of the stock is currently owned by institutional investors and hedge funds.

NYSE:RY traded down $0.03 during trading hours on Friday, hitting $76.29. 611,564 shares of the stock traded hands, compared to its average volume of 720,242. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.13. Royal Bank of Canada has a fifty-two week low of $66.66 and a fifty-two week high of $87.10. The company has a market cap of $110,211.05, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14.

Royal Bank of Canada declared that its board has authorized a share buyback program on Friday, February 23rd that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.88%. Royal Bank of Canada’s dividend payout ratio is 47.52%.

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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.

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

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