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

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given a consensus recommendation of “Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$163.38.

Several brokerages have issued reports on RY. Barclays upped their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Scotiabank lowered their target price on Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Jefferies Financial Group lowered their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, BMO Capital Markets upped their target price on Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th.

Insider Activity

In other news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at C$4,115. The trade was a 0.00 % decrease in their ownership of the stock. In related news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of Royal Bank of Canada stock in a transaction dated 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 transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,115. This trade represents a 0.00 % decrease in their position. Insiders sold a total of 144,770 shares of company stock worth $23,959,265 in the last three months.

Royal Bank of Canada Stock Down 0.3 %

TSE RY opened at C$174.08 on Friday. The company has a market cap of C$245.45 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$175.04. The business’s fifty day moving average is C$162.56 and its 200 day moving average is C$150.38.

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 EPS 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 firm had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. On average, research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be issued 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 3.26%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

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.