Royal Bank of Canada (NYSE:RY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $133.25.

A number of analysts recently weighed in on RY shares. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. UBS Group began coverage on Royal Bank of Canada in a report on Tuesday, July 2nd. They issued a “buy” rating on the stock. Argus upped their target price on Royal Bank of Canada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Jefferies Financial Group raised Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Scotiabank upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th.

Hedge Funds Weigh In On Royal Bank of Canada

Institutional investors and hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its position in shares of Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 185 shares in the last quarter. Mather Group LLC. acquired a new position in Royal Bank of Canada in the 1st quarter valued at approximately $49,000. Nisa Investment Advisors LLC lifted its position in Royal Bank of Canada by 293.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock worth $54,000 after buying an additional 379 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Royal Bank of Canada by 131.0% during the 4th quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after buying an additional 300 shares during the period. Finally, Heritage Wealth Advisors purchased a new position in shares of Royal Bank of Canada during the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.6 %

Shares of RY stock opened at $109.63 on Friday. The stock has a 50-day simple moving average of $107.34 and a 200 day simple moving average of $102.04. The stock has a market capitalization of $155.13 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.71 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $112.67. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.12. The company had revenue of $10.43 billion during the quarter, compared to analyst estimates of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. On average, sell-side analysts expect that Royal Bank of Canada will post 8.59 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be paid a $1.03 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio is currently 51.49%.

Royal Bank of Canada Company Profile

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.