Royal Bank of Canada (RY) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Royal Bank of Canada (NYSE:RY) (TSE:RY) issued its earnings results on Wednesday. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.10, Morningstar.com reports. The company had revenue of $10.67 billion during the quarter, compared to analysts’ expectations of $11.14 billion. Royal Bank of Canada had a return on equity of 18.34% and a net margin of 21.60%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.88 EPS.

RY opened at $73.63 on Friday. Royal Bank of Canada has a 12-month low of $69.99 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 stock has a market cap of $106.57 billion, a P/E ratio of 11.28, a PEG ratio of 1.48 and a beta of 1.14.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, January 24th will be paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Wednesday, January 23rd. Royal Bank of Canada’s payout ratio is 46.55%.



A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Royal Bank of Canada by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after acquiring an additional 981,890 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $463,806,000. Neuberger Berman Group LLC raised its position in shares of Royal Bank of Canada by 6.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 60,609 shares of the financial services provider’s stock worth $4,859,000 after acquiring an additional 3,404 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of Royal Bank of Canada by 17.6% during the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 4,233,987 shares of the financial services provider’s stock worth $423,560,000 after acquiring an additional 633,100 shares in the last quarter. Finally, Banco de Sabadell S.A acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter worth about $1,913,000. 40.36% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on RY. ValuEngine lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Zacks Investment Research lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Howard Weil raised Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Scotiabank raised Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 10th. Finally, Scotia Howard Weill raised Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, September 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $86.50.

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Royal Bank of Canada Company Profile

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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Earnings History for Royal Bank of Canada (NYSE:RY)

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