Royal Bank of Canada (TSE:RY) Receives C$163.38 Consensus Price Target from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$163.38.

Several analysts recently commented on the stock. Bank of America lifted their target price on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. National Bankshares lifted their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a report on Thursday, August 29th. Barclays upped their price objective on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Scotiabank lowered their price target on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Finally, Cormark boosted their price objective on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th.

Royal Bank of Canada Stock Up 1.1 %

TSE:RY opened at C$173.37 on Friday. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$173.60. The firm has a market capitalization of C$244.45 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 3.42 and a beta of 0.84. The stock’s 50 day moving average price is C$161.52 and its two-hundred day moving average price is C$149.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The business had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.28%. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value 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 C$4,115. This represents a 0.00 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders sold a total of 144,770 shares of company stock worth $23,959,265 over the last three months.

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.