FY2027 Earnings Estimate for RY Issued By Erste Group Bank

Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Erste Group Bank lifted their FY2027 earnings estimates for Royal Bank Of Canada in a research note issued on Friday, June 5th. Erste Group Bank analyst H. Engel now expects that the financial services provider will earn $12.57 per share for the year, up from their previous forecast of $12.50. The consensus estimate for Royal Bank Of Canada’s current full-year earnings is $11.52 per share.

Several other brokerages also recently commented on RY. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Up 0.8%

RY opened at $199.16 on Friday. Royal Bank Of Canada has a twelve month low of $126.02 and a twelve month high of $200.05. The company has a 50-day simple moving average of $181.40 and a 200 day simple moving average of $171.56. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $276.79 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.56 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the prior year, the business posted $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RY. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Key Financial Inc increased its stake in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the third quarter valued at approximately $27,000. Finally, Maseco LLP increased its stake in shares of Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.