National Bank Financial Analysts Reduce Earnings Estimates for Royal Bank of Canada (TSE:RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at National Bank Financial cut their Q3 2024 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a research report issued to clients and investors on Thursday, August 15th. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $2.99 for the quarter, down from their prior estimate of $3.03. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.59 per share. National Bank Financial also issued estimates for Royal Bank of Canada’s FY2024 earnings at $11.78 EPS.

RY has been the subject of several other research reports. Desjardins lifted their price objective on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Argus raised Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. BMO Capital Markets lowered Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. Scotiabank reduced their target price on Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday. Finally, UBS Group set a C$165.00 target price on Royal Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$148.29.

Royal Bank of Canada Trading Down 0.2 %

Shares of TSE:RY opened at C$153.40 on Monday. The business has a fifty day simple moving average of C$149.04 and a 200 day simple moving average of C$141.27. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$155.22. The firm has a market cap of C$217.83 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The company had revenue of C$14.15 billion for the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s payout ratio is 52.01%.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now owns 235 shares in the company, valued at C$33,133.12. In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 20,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the transaction, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,133.12. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. Insiders have sold 101,302 shares of company stock valued at $14,592,565 in the last three months.

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.