Royal Bank of Canada (TSE:RY) Sets New 1-Year Low at $123.51

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) hit a new 52-week low on Thursday . The company traded as low as C$123.51 and last traded at C$123.58, with a volume of 628708 shares changing hands. The stock had previously closed at C$126.58.

A number of brokerages recently weighed in on RY. Scotiabank decreased their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. National Bankshares raised their price objective on Royal Bank of Canada from C$147.00 to C$148.00 and gave the company an “outperform” rating in a report on Friday, May 27th. CIBC decreased their price objective on Royal Bank of Canada from C$149.00 to C$146.00 in a report on Tuesday, May 17th. Credit Suisse Group reduced their price target on Royal Bank of Canada to C$152.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Finally, Fundamental Research restated a “buy” rating and set a C$142.00 price target on shares of Royal Bank of Canada in a research report on Wednesday, June 8th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Buy” and a consensus price target of C$146.86.

The stock has a market capitalization of C$174.60 billion and a P/E ratio of 10.89. The stock has a 50-day moving average price of C$130.68 and a two-hundred day moving average price of C$136.15.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last issued its quarterly earnings data on Thursday, May 26th. The financial services provider reported C$2.99 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.67 by C$0.32. The business had revenue of C$11.22 billion during the quarter. On average, sell-side analysts forecast that Royal Bank of Canada will post 11.9999989 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be paid a $1.28 dividend. This represents a $5.12 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Monday, July 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.20. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 39.86%.

In other Royal Bank of Canada news, Senior Officer Helena Gottschling sold 404 shares of Royal Bank of Canada stock in a transaction on Friday, April 22nd. The stock was sold at an average price of C$135.38, for a total transaction of C$54,692.51. Following the completion of the transaction, the insider now owns 1,373 shares in the company, valued at C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock in a transaction on Monday, March 21st. The shares were sold at an average price of C$142.44, for a total value of C$580,711.16. Following the transaction, the director now owns 5,873 shares of the company’s stock, valued at approximately C$836,526.04. In the last 90 days, insiders sold 12,635 shares of company stock valued at $1,704,690.

About Royal Bank of Canada (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, 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.

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