Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$146.86

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) has received a consensus rating of “Buy” from the fifteen analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$146.86.

A number of analysts recently weighed in on RY shares. National Bankshares upped their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 and gave the company an “outperform” rating in a research note on Friday, May 27th. Credit Suisse Group decreased their price objective on shares of Royal Bank of Canada to C$152.00 and set an “outperform” rating on the stock in a research note on Friday, May 27th. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$131.50 to C$134.00 in a research note on Friday, May 27th. Fundamental Research reaffirmed a “buy” rating and set a C$142.00 price objective on shares of Royal Bank of Canada in a research note on Wednesday, June 8th. Finally, TD Securities decreased their price objective on shares of Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating on the stock in a research note on Friday, May 27th.

TSE RY opened at C$124.53 on Wednesday. The stock has a market cap of C$174.60 billion and a P/E ratio of 10.89. The company’s 50-day simple moving average is C$130.68 and its 200 day simple moving average is C$136.28. Royal Bank of Canada has a twelve month low of C$123.30 and a twelve month high of C$149.60.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last posted its earnings results on Thursday, May 26th. The financial services provider reported C$2.99 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.67 by C$0.32. The business had revenue of C$11.22 billion during the quarter. As a group, equities analysts predict that Royal Bank of Canada will post 11.9999989 EPS for the current year.

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

In related news, Senior Officer Helena Gottschling sold 404 shares of the stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of C$135.38, for a total value of C$54,692.51. Following the transaction, the insider now directly owns 1,373 shares in the company, valued at C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of the stock in a transaction that occurred on Friday, April 22nd. The shares were sold at an average price of C$135.27, for a total transaction of C$551,490.90. Following the completion of the transaction, the director now owns 5,873 shares in the company, valued at C$794,433.66. Insiders have sold 8,558 shares of company stock worth $1,123,979 over the last three months.

About Royal Bank of Canada (Get Rating)

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.

Read More

Analyst Recommendations 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.