Royal Bank of Canada (TSE:RY) Reaches New 12-Month High – Should You Buy?

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$240.40 and last traded at C$240.02, with a volume of 907694 shares trading hands. The stock had previously closed at C$239.00.

Analysts Set New Price Targets

Several analysts have weighed in on RY shares. Scotiabank boosted their price target on Royal Bank of Canada from C$242.00 to C$247.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. National Bank Financial boosted their price target on Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Barclays boosted their price target on Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. Finally, Raymond James Financial boosted their price target on Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a “buy” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$244.58.

Royal Bank of Canada Stock Up 0.6%

The stock has a market cap of C$335.02 billion, a PE ratio of 16.52, a P/E/G ratio of 3.42 and a beta of 1.07. The business has a 50 day moving average price of C$228.61 and a 200 day moving average price of C$222.16.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The firm had revenue of C$17.96 billion for the quarter. On average, research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd will be given a dividend of $1.64 per share. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.7%. Royal Bank of Canada’s dividend payout ratio is currently 42.58%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.