Royal Bank of Canada (TSE:RY) (NYSE:RY) – Analysts at Cormark issued their Q2 2018 earnings estimates for shares of Royal Bank of Canada in a research report issued on Monday. Cormark analyst M. Grauman expects that the financial services provider will post earnings of $2.13 per share for the quarter. Cormark also issued estimates for Royal Bank of Canada’s Q3 2018 earnings at $2.20 EPS, Q4 2018 earnings at $2.19 EPS, FY2018 earnings at $8.57 EPS, Q1 2019 earnings at $2.20 EPS, Q2 2019 earnings at $2.24 EPS, Q3 2019 earnings at $2.37 EPS, Q4 2019 earnings at $2.37 EPS and FY2019 earnings at $9.18 EPS.
Several other research firms also recently issued reports on RY. Canaccord Genuity boosted their price objective on Royal Bank of Canada from C$105.00 to C$108.00 in a report on Thursday, November 30th. BMO Capital Markets reiterated a “market perform” rating and issued a C$106.00 price objective on shares of Royal Bank of Canada in a report on Monday. CIBC downgraded Royal Bank of Canada from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$113.00 to C$114.00 in a report on Thursday, February 1st. Citigroup boosted their price objective on Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. Finally, Eight Capital upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$107.00 to C$113.00 in a report on Monday, December 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus target price of C$110.80.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 EPS for the quarter, beating the Zacks’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.49% and a net margin of 26.17%.
In other Royal Bank of Canada news, Director Jeffery William Yabuki acquired 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average cost of C$79.63 per share, with a total value of C$79,630.00. Also, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of C$108.12, for a total value of C$578,658.24. Insiders have sold a total of 25,197 shares of company stock valued at $2,611,814 over the last three months.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Wednesday, April 25th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 3.65%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Tuesday, April 24th. Royal Bank of Canada’s payout ratio is presently 47.66%.
Royal Bank of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.