Royal Bank of Canada (RY) Set to Announce Earnings on Wednesday

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) will release its earnings data before the market opens on Wednesday, February 28th. Analysts expect Royal Bank of Canada to post earnings of C$2.87 per share for the quarter.

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) last issued its earnings results on Thursday, November 30th. The financial services provider reported C$2.78 EPS for the quarter, topping analysts’ consensus estimates of C$2.64 by C$0.14. Royal Bank of Canada had a return on equity of 13.16% and a net margin of 27.69%. The firm had revenue of C$13.03 billion for the quarter, compared to the consensus estimate of C$12.97 billion.

Royal Bank of Canada Stock Down 0.7 %

Shares of RY opened at C$132.32 on Tuesday. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$138.80. The company has a market capitalization of C$186.57 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 10.64 and a beta of 0.84. The stock’s 50-day moving average price is C$132.66 and its 200-day moving average price is C$124.07.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th were paid a $1.38 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 4.17%. Royal Bank of Canada’s dividend payout ratio is presently 52.57%.

Analyst Ratings Changes

A number of brokerages have recently commented on RY. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$130.00 to C$146.00 in a research note on Monday, December 18th. Desjardins increased their price target on Royal Bank of Canada from C$136.00 to C$142.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Scotiabank increased their price target on Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. CIBC increased their price target on Royal Bank of Canada from C$128.00 to C$141.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Keefe, Bruyette & Woods decreased their target price on Royal Bank of Canada from C$127.00 to C$125.00 and set a “market perform” rating on the stock in a research report on Thursday, November 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$137.15.

Read Our Latest Stock Report on Royal Bank of Canada

About Royal Bank of Canada

(Get Free Report)

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.

Recommended Stories

Earnings History for Royal Bank of Canada (TSE:RY)

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.