Royal Bank of Canada (RY) Receives Average Recommendation of “Hold” from Brokerages

Royal Bank of Canada (NYSE:RY) (TSE:RY) has earned a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $100.33.

A number of brokerages have recently commented on RY. ValuEngine downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday. Scotia Howard Weill raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Scotiabank raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 10th. Howard Weil raised shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Finally, Zacks Investment Research downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. increased its stake in Royal Bank of Canada by 1.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 231,320 shares of the financial services provider’s stock worth $23,951,000 after buying an additional 3,200 shares during the period. Marathon Asset Management LLP increased its stake in Royal Bank of Canada by 0.5% during the 3rd quarter. Marathon Asset Management LLP now owns 355,020 shares of the financial services provider’s stock worth $28,448,000 after buying an additional 1,929 shares during the period. Comerica Bank increased its stake in Royal Bank of Canada by 5.1% during the 3rd quarter. Comerica Bank now owns 92,885 shares of the financial services provider’s stock worth $6,986,000 after buying an additional 4,498 shares during the period. US Bancorp DE increased its stake in Royal Bank of Canada by 3.0% during the 3rd quarter. US Bancorp DE now owns 73,455 shares of the financial services provider’s stock worth $5,890,000 after buying an additional 2,165 shares during the period. Finally, 1ST Source Bank purchased a new stake in Royal Bank of Canada during the 3rd quarter worth $204,000. 40.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of RY stock traded up $0.33 during mid-day trading on Monday, reaching $73.35. The company’s stock had a trading volume of 38,573 shares, compared to its average volume of 832,104. Royal Bank of Canada has a 12-month low of $71.01 and a 12-month high of $87.10. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.13. The company has a market cap of $105.22 billion, a PE ratio of 12.10, a P/E/G ratio of 1.37 and a beta of 1.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 EPS for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.04. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.39 billion. Equities research analysts expect that Royal Bank of Canada will post 6.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Thursday, October 25th will be paid a dividend of $0.753 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, October 24th. This represents a $3.01 annualized dividend and a yield of 4.11%. Royal Bank of Canada’s payout ratio is 50.17%.

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

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