Royal Bank of Canada (RY) Set to Announce Quarterly Earnings on Thursday

Royal Bank of Canada (TSE:RY) (NYSE:RY) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 30th. Analysts expect the company to announce earnings of C$2.81 per share for the quarter.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The business had revenue of C$13.49 billion for the quarter, compared to the consensus estimate of C$13.65 billion.

Royal Bank of Canada Stock Up 0.3 %

RY stock opened at C$145.01 on Thursday. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$145.57. The company has a market cap of C$204.46 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The business’s 50-day simple moving average is C$137.38 and its 200 day simple moving average is C$131.95.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.25%.

Analyst Ratings Changes

A number of research firms have weighed in on RY. Jefferies Financial Group raised Royal Bank of Canada from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$136.00 to C$157.00 in a report on Monday, May 13th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a report on Thursday, February 29th. CIBC reduced their target price on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$140.00 to C$150.00 in a report on Friday, April 5th. Finally, TD Securities boosted their target price on Royal Bank of Canada from C$153.00 to C$156.00 in a report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$140.36.

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.