Royal Bank of Canada Expected to Post FY2017 Earnings of $7.35 Per Share (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at Desjardins lifted their FY2017 earnings estimates for shares of Royal Bank of Canada in a report issued on Thursday. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $7.35 for the year, up from their prior forecast of $7.32. Desjardins also issued estimates for Royal Bank of Canada’s FY2018 earnings at $7.75 EPS.
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RY has been the topic of several other reports. National Bank Financial reiterated a “sector perform” rating on shares of Royal Bank of Canada in a report on Monday, February 20th. CIBC lifted their price objective on Royal Bank of Canada from C$98.00 to C$99.00 in a report on Wednesday, February 15th. TD Securities reiterated a “buy” rating and issued a C$105.00 price objective on shares of Royal Bank of Canada in a report on Monday, February 27th. Scotiabank lifted their price objective on Royal Bank of Canada from C$102.00 to C$104.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on Royal Bank of Canada from C$92.00 to C$99.00 and gave the stock a “market perform” rating in a report on Monday, February 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$94.23.
Shares of Royal Bank of Canada (TSE:RY) opened at 93.74 on Friday. Royal Bank of Canada has a 52-week low of $74.64 and a 52-week high of $99.90. The company has a 50 day moving average price of $94.33 and a 200-day moving average price of $93.59. The stock has a market capitalization of $138.29 billion and a P/E ratio of 13.08.
In other Royal Bank of Canada news, insider Jennifer Anne Tory sold 353 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of C$96.66, for a total value of C$34,120.98. Also, insider Alex Douglas Mcgregor sold 14,475 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of C$99.10, for a total transaction of C$1,434,472.50. Insiders sold a total of 47,701 shares of company stock worth $4,650,454 over the last three months.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 3.71%.
Royal Bank of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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