Q1 2018 EPS Estimates for Royal Bank of Canada (RY) Increased by Desjardins

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.

Earnings History and Estimates for Royal Bank of Canada (TSE:RY)

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