Q2 2019 EPS Estimates for Royal Bank of Canada Lifted by Analyst (RY)

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Royal Bank of Canada (NYSE:RY) (TSE:RY) – Desjardins raised their Q2 2019 earnings per share (EPS) estimates for Royal Bank of Canada in a research note issued on Thursday, May 23rd. Desjardins analyst D. Young now expects that the financial services provider will earn $1.65 per share for the quarter, up from their previous estimate of $1.62. Desjardins currently has a “Buy” rating and a $111.00 target price on the stock. Desjardins also issued estimates for Royal Bank of Canada’s Q3 2019 earnings at $1.67 EPS, Q4 2019 earnings at $1.75 EPS and FY2019 earnings at $6.70 EPS.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. The business had revenue of $8.63 billion for the quarter, compared to analyst estimates of $7.60 billion. Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. During the same period last year, the firm posted $2.06 earnings per share.

RY has been the topic of a number of other reports. Zacks Investment Research lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, May 16th. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Finally, Scotiabank reiterated an “average” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Royal Bank of Canada presently has a consensus rating of “Buy” and a consensus target price of $99.25.

NYSE:RY opened at $77.26 on Monday. Royal Bank of Canada has a 1-year low of $65.76 and a 1-year high of $81.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $112.60 billion, a P/E ratio of 11.83, a PEG ratio of 1.96 and a beta of 1.11.

Institutional investors have recently added to or reduced their stakes in the business. Resources Investment Advisors Inc. acquired a new stake in Royal Bank of Canada in the first quarter valued at $30,000. CWM LLC lifted its holdings in Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 190 shares during the period. WP Advisors LLC acquired a new stake in Royal Bank of Canada in the first quarter valued at $38,000. Financial Gravity Companies Inc. acquired a new stake in Royal Bank of Canada in the fourth quarter valued at $38,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Royal Bank of Canada in the fourth quarter valued at $38,000. 41.42% of the stock is owned by institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a $0.7596 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, July 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.86%.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)

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