Royal Bank of Canada (TSE:RY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is C$161.50.

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$151.00 to C$165.00 in a research report on Thursday. Argus upgraded Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Cormark upped their price objective on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday. Jefferies Financial Group cut their target price on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, TD Securities raised their price target on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a report on Thursday.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction that occurred on 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. 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 business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 235 shares in the company, valued at approximately C$33,133.12. Insiders have sold 101,302 shares of company stock worth $14,592,565 over the last three months.

Royal Bank of Canada Stock Up 0.5 %

Shares of TSE:RY opened at C$160.75 on Friday. The firm has a 50 day moving average of C$150.62 and a 200 day moving average of C$142.27. The company has a market capitalization of C$228.27 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$162.73.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. On average, sell-side analysts expect that Royal Bank of Canada will post 12.8601286 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.53%. Royal Bank of Canada’s payout ratio is currently 50.31%.

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.