Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned an average recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $95.33.
Several brokerages have commented on RY. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Canaccord Genuity reissued a “hold” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Desjardins reissued a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, December 11th. Finally, Argus lowered their price objective on Royal Bank of Canada to $89.00 and set a “positive” rating for the company in a research report on Thursday, November 29th. They noted that the move was a valuation call.
Large investors have recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new stake in Royal Bank of Canada in the 4th quarter worth about $38,000. Oppenheimer Asset Management Inc. bought a new stake in Royal Bank of Canada in the 4th quarter worth about $38,000. Executive Wealth Management LLC bought a new stake in Royal Bank of Canada in the 4th quarter worth about $43,000. Laurel Wealth Advisors LLC bought a new stake in Royal Bank of Canada in the 4th quarter worth about $95,000. Finally, Honkamp Krueger Financial Services Inc. bought a new stake in Royal Bank of Canada in the 3rd quarter worth about $120,000. Hedge funds and other institutional investors own 41.39% of the company’s stock.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Friday, February 22nd. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $8.70 billion for the quarter, compared to analysts’ expectations of $8.31 billion. Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. During the same period in the prior year, the business posted $2.01 EPS. Analysts predict that Royal Bank of Canada will post 6.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.7704 per share. The ex-dividend date is Wednesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 3.98%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 43.95%.
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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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