Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$145.71.

Several research analysts have weighed in on the company. CIBC upped their price target on Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a research note on Friday, May 31st. Jefferies Financial Group increased their target price on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. TD Securities increased their target price on Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Scotiabank increased their target price on Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, Desjardins increased their target price on Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a “buy” rating in a research report on Friday, May 31st.

Royal Bank of Canada Price Performance

RY stock opened at C$148.96 on Monday. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$155.22. The company has a market capitalization of C$210.03 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 10.64 and a beta of 0.83. The business has a 50 day simple moving average of C$147.95 and a two-hundred day simple moving average of C$139.65.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share for the quarter, topping the consensus estimate of C$2.77 by C$0.15. 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$14.15 billion during the quarter, compared to the consensus estimate of C$13.58 billion. Sell-side analysts anticipate that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.81%. Royal Bank of Canada’s dividend payout ratio is presently 51.54%.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the transaction, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,133.12. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the sale, the insider now directly owns 235 shares in the company, valued at approximately C$33,133.12. In the last 90 days, insiders have sold 101,302 shares of company stock valued at $14,592,565.

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 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.