Royal Bank of Canada (TSE:RY) Stock Passes Above 200 Day Moving Average of $104.95


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Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$104.95 and traded as high as C$116.94. Royal Bank of Canada shares last traded at C$116.49, with a volume of 1,669,427 shares traded.

A number of research firms have weighed in on RY. TD Securities raised their price objective on shares of Royal Bank of Canada from C$120.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. National Bank Financial raised their price target on shares of Royal Bank of Canada from C$117.00 to C$123.00 and gave the company an “outperform” rating in a report on Thursday, February 25th. CSFB raised their price target on shares of Royal Bank of Canada from C$115.00 to C$118.00 in a report on Wednesday, March 3rd. Scotiabank raised their price target on shares of Royal Bank of Canada from C$129.00 to C$133.00 in a report on Thursday, February 25th. Finally, Cormark raised their price target on shares of Royal Bank of Canada from C$117.00 to C$118.00 in a report on Friday, February 26th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Buy” and an average target price of C$118.12.

The firm’s 50-day moving average is C$113.74 and its two-hundred day moving average is C$105.06. The company has a market cap of C$165.71 billion and a P/E ratio of 14.43.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, February 24th. The financial services provider reported C$2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$2.22 by C$0.47. The firm had revenue of C$12.94 billion for the quarter, compared to the consensus estimate of C$11.47 billion. On average, analysts forecast that Royal Bank of Canada will post 10.1999998 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 21st. Shareholders of record on Thursday, April 22nd will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date is Wednesday, April 21st. Royal Bank of Canada’s dividend payout ratio (DPR) is 53.48%.

In other news, Director David Ian Mckay sold 5,322 shares of the business’s stock in a transaction on Monday, February 22nd. The shares were sold at an average price of C$110.53, for a total transaction of C$588,230.55. Following the completion of the sale, the director now directly owns 5,873 shares of the company’s stock, valued at C$649,131.53. Insiders have sold 15,966 shares of company stock worth $1,777,436 in the last quarter.

Royal Bank of Canada Company Profile (TSE:RY)

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, 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.

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