Royal Bank of Canada (TSE:RY) Receives C$228.92 Average Target Price from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$229.77.

A number of brokerages have issued reports on RY. CIBC boosted their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. UBS Group lifted their target price on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a report on Tuesday, November 25th. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. TD Securities raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$215.00 to C$246.00 in a report on Thursday, December 4th. Finally, Erste Group Bank upgraded shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Monday, September 22nd.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the sale, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,343,448.75. This trade represents a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada Stock Performance

TSE:RY opened at C$235.52 on Monday. The firm’s fifty day moving average is C$221.66 and its two-hundred day moving average is C$203.24. The firm has a market cap of C$329.78 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 3.42 and a beta of 1.32. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The business had revenue of C$17.21 billion during the quarter. As a group, equities 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 was paid on Monday, November 24th. Investors of record on Monday, November 24th were issued a $1.54 dividend. The ex-dividend date of this dividend was Monday, October 27th. This represents a $6.16 dividend on an annualized basis and a yield of 2.6%. Royal Bank of Canada’s dividend payout ratio is presently 42.93%.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.