Royal Bank of Canada (TSE:RY) (NYSE:RY) – Desjardins increased their Q1 2018 earnings per share estimates for Royal Bank of Canada in a report released on Friday. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.95 for the quarter, up from their prior estimate of $1.91. Desjardins also issued estimates for Royal Bank of Canada’s FY2018 earnings at $8.06 EPS and FY2019 earnings at $8.70 EPS.
RY has been the subject of several other research reports. Eight Capital raised Royal Bank of Canada from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$107.00 to C$113.00 in a research report on Monday, December 11th. CSFB raised their target price on Royal Bank of Canada from C$105.00 to C$108.00 and gave the stock an “outperform” rating in a research report on Thursday, November 30th. BMO Capital Markets raised their target price on Royal Bank of Canada from C$100.00 to C$102.00 and gave the stock a “market perform” rating in a research report on Thursday, November 30th. CIBC raised their target price on Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Finally, National Bank Financial lifted their price objective on Royal Bank of Canada from C$105.00 to C$107.00 and gave the company a “sector perform” rating in a research report on Friday, January 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$108.17.
Shares of Royal Bank of Canada (TSE:RY) opened at C$100.49 on Monday. The company has a market capitalization of $146,800.00, a price-to-earnings ratio of 13.29 and a beta of 0.71. Royal Bank of Canada has a 12-month low of C$90.13 and a 12-month high of C$108.52.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.63% and a net margin of 26.20%.
In other Royal Bank of Canada news, Director David Ian Mckay sold 5,352 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of C$108.12, for a total transaction of C$578,658.24. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of C$101.73, for a total value of C$753,107.19. In the last three months, insiders have sold 13,835 shares of company stock valued at $1,448,535.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a yield of 3.62%. Royal Bank of Canada’s payout ratio is 46.03%.
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Royal Bank of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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