Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$137.65.
A number of research firms have recently weighed in on RY. Scotiabank upped their price objective on Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. CIBC dropped their price objective on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating for the company in a research note on Friday, March 8th. Finally, BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$140.00 to C$150.00 in a research note on Friday, April 5th.
View Our Latest Stock Report on RY
Royal Bank of Canada Stock Down 2.3 %
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, topping analysts’ consensus estimates of C$2.79 by C$0.06. The business had revenue of C$13.49 billion during the quarter, compared to analysts’ expectations of C$13.65 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. On average, equities analysts anticipate that Royal Bank of Canada will post 11.305 earnings per share for the current fiscal year.
Royal Bank of Canada Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is 51.25%.
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.
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