Shares of Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $137.67.
RY has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating for the company. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price target for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Finally, Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company.
Read Our Latest Stock Report on Royal Bank of Canada
Hedge Funds Weigh In On Royal Bank of Canada
Royal Bank of Canada Stock Up 0.2 %
RY stock opened at $96.93 on Friday. The stock has a market cap of $137.13 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.67 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $98.96 and its two-hundred day simple moving average is $94.13. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $103.88.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The company had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $10.10 billion. Analysts expect that Royal Bank of Canada will post 8.45 EPS for the current year.
Royal Bank of Canada Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This represents a $4.08 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is presently 37.66%.
About Royal Bank of Canada
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.
Featured Stories
- Five stocks we like better than Royal Bank of Canada
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Comprehensive PepsiCo Stock Analysis
- With Risk Tolerance, One Size Does Not Fit All
- CSX Co.: The Railroad Powering Ahead with an Earnings Beat
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- 3 Steel Stocks Could Soar on New China Tariffs
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.