Q2 2022 Earnings Forecast for Royal Bank of Canada Issued By Desjardins (NYSE:RY)

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) – Research analysts at Desjardins dropped their Q2 2022 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a research note issued to investors on Monday, May 9th. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $2.09 per share for the quarter, down from their prior forecast of $2.13.

Several other equities analysts have also commented on RY. Canaccord Genuity Group lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their target price for the company from $141.00 to $148.00 in a report on Monday, February 7th. Canaccord Genuity Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price target for the company from $141.00 to $148.00 in a research report on Monday, February 7th. Scotiabank dropped their price target on shares of Royal Bank of Canada from C$163.00 to C$150.00 in a research report on Wednesday, April 13th. Stifel Nicolaus dropped their price target on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a research report on Friday, April 8th. Finally, CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Monday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $143.34.

RY stock opened at $98.05 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. Royal Bank of Canada has a 52 week low of $95.02 and a 52 week high of $119.41. The firm’s fifty day moving average is $107.15 and its 200 day moving average is $107.76. The firm has a market cap of $138.01 billion, a P/E ratio of 10.91, a P/E/G ratio of 2.08 and a beta of 0.90.

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) last released its earnings results on Thursday, February 24th. The financial services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $2.15 by $0.13. Royal Bank of Canada had a net margin of 28.16% and a return on equity of 18.28%. The company had revenue of $10.37 billion for the quarter.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 24th. Stockholders of record on Monday, April 25th will be given a $0.944 dividend. This represents a $3.78 annualized dividend and a dividend yield of 3.85%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Friday, April 22nd. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 42.71%.

Several large investors have recently bought and sold shares of RY. Contravisory Investment Management Inc. increased its stake in shares of Royal Bank of Canada by 9.7% in the 4th quarter. Contravisory Investment Management Inc. now owns 991 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 88 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of Royal Bank of Canada by 5.0% in the 1st quarter. AdvisorNet Financial Inc now owns 1,974 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 94 shares in the last quarter. Total Clarity Wealth Management Inc. increased its stake in shares of Royal Bank of Canada by 2.1% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,780 shares of the financial services provider’s stock worth $507,000 after acquiring an additional 100 shares in the last quarter. Tilia Fiduciary Partners Inc. increased its stake in shares of Royal Bank of Canada by 10.1% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 1,089 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 100 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Royal Bank of Canada by 15.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 751 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 103 shares in the last quarter. 41.50% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Company Profile (Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

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