National Bank Financial Comments on Royal Bank of Canada’s Q3 2017 Earnings (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities researchers at National Bank Financial lifted their Q3 2017 earnings per share estimates for shares of Royal Bank of Canada in a note issued to investors on Thursday. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings per share of $1.85 for the quarter, up from their previous forecast of $1.83. National Bank Financial has a “Sector Perform” rating and a $99.00 price target on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.84 EPS, FY2017 earnings at $7.49 EPS, Q1 2018 earnings at $1.96 EPS, Q2 2018 earnings at $2.00 EPS and FY2018 earnings at $7.96 EPS.
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Separately, Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$95.83.
Royal Bank of Canada (TSE RY) opened at 92.25 on Monday. The company’s 50-day moving average is $94.07 and its 200-day moving average is $95.06. Royal Bank of Canada has a 12 month low of $79.75 and a 12 month high of $99.90. The stock has a market capitalization of $134.40 billion and a P/E ratio of 12.56.
In other news, insider Alex Douglas Mcgregor sold 30,000 shares of Royal Bank of Canada stock in a transaction on Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. Also, Director David Ian Mckay sold 5,352 shares of Royal Bank of Canada stock in a transaction on Monday, July 24th. The stock was sold at an average price of C$93.65, for a total value of C$501,214.80. Insiders have sold 40,400 shares of company stock valued at $3,756,065 in the last three months.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, July 24th.
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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