Royal Bank of Canada (TSE:RY) (NYSE:RY) will announce its earnings results before the market opens on Thursday, May 24th. Analysts expect the company to announce earnings of C$2.07 per share for the quarter.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Friday, February 23rd. The financial services provider reported C$2.17 EPS for the quarter, topping analysts’ consensus estimates of C$1.97 by C$0.20. Royal Bank of Canada had a net margin of 26.17% and a return on equity of 16.49%. The firm had revenue of C$10.83 billion during the quarter, compared to analysts’ expectations of C$9.82 billion.
Royal Bank of Canada opened at C$101.75 on Wednesday, MarketBeat.com reports. Royal Bank of Canada has a 12 month low of C$90.13 and a 12 month high of C$108.52.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Wednesday, April 25th will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.70%.
In other Royal Bank of Canada news, Director David Ian Mckay sold 10,282 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$102.37, for a total value of C$1,052,568.34. Also, insider Helena Gottschling sold 1,080 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of C$102.51, for a total transaction of C$110,710.80. Over the last three months, insiders acquired 900 shares of company stock valued at $69,558 and sold 38,078 shares valued at $3,866,839.
A number of equities analysts recently commented on RY shares. CIBC cut shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from C$113.00 to C$114.00 in a research note on Thursday, February 1st. National Bank Financial lifted their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$106.00 price target on shares of Royal Bank of Canada in a research note on Monday, February 26th. Barclays lifted their price target on shares of Royal Bank of Canada from C$100.00 to C$103.00 in a research note on Monday, February 26th. Finally, Canaccord Genuity lifted their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of C$110.80.
About Royal Bank of Canada
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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