Recent Investment Analysts’ Ratings Changes for Royal Bank of Canada (RY)

Royal Bank of Canada (TSE: RY) has recently received a number of price target changes and ratings updates:

• 11/20/2024 – Royal Bank of Canada had its price target raised by analysts at National Bankshares, Inc. from C$169.00 to C$181.00.
• 11/19/2024 – Royal Bank of Canada had its price target raised by analysts at Canaccord Genuity Group Inc. from C$172.00 to C$188.00.
• 11/18/2024 – Royal Bank of Canada had its price target raised by analysts at BMO Capital Markets from C$165.00 to C$195.00.
• 11/15/2024 – Royal Bank of Canada was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating. They now have a C$180.00 price target on the stock, up previously from C$178.00.

Royal Bank of Canada Trading Down 0.8 %

Royal Bank of Canada stock traded down C$1.39 during mid-day trading on Wednesday, hitting C$170.30. The company’s stock had a trading volume of 2,451,316 shares, compared to its average volume of 4,863,362. The firm has a market capitalization of C$240.12 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock’s fifty day moving average is C$169.56 and its two-hundred day moving average is C$155.96. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.04.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. On average, equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insiders Place Their Bets

In other news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,115. This represents a 99.75 % decrease in their position. In the last three months, insiders have sold 144,770 shares of company stock worth $23,959,265.

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.