Royal Bank of Canada (TSE:RY) Hits New 12-Month High at $140.77

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) hit a new 52-week high on Thursday . The stock traded as high as C$140.77 and last traded at C$140.56, with a volume of 484812 shares trading hands. The stock had previously closed at C$139.89.

Wall Street Analyst Weigh In

RY has been the subject of several analyst reports. Canaccord Genuity Group upped their price target 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. Scotiabank increased their price target on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. CIBC cut their target price 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 report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$137.65.

Royal Bank of Canada Stock Up 0.8 %

The firm has a market cap of C$198.75 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The business has a 50 day moving average of C$135.39 and a 200 day moving average of C$129.69.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The company had revenue of C$13.49 billion for the quarter, compared to analyst estimates of C$13.65 billion. Research analysts predict that Royal Bank of Canada will post 11.3055556 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 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.