Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at National Bank Financial lowered their Q2 2018 earnings estimates for shares of Royal Bank of Canada in a note issued to investors on Wednesday. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $1.99 for the quarter, down from their previous estimate of $2.00. National Bank Financial currently has a “Sector Perform” rating and a $99.00 target price on the stock.

A number of other brokerages also recently weighed in on RY. Eight Capital upped their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday. Barclays PLC upped their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday. BMO Capital Markets reissued a “market perform” rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday. Finally, Scotiabank downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and cut their price target for the company from C$102.00 to C$100.00 in a report on Monday, August 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$99.75.

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Shares of Royal Bank of Canada (TSE RY) opened at 93.25 on Monday. Royal Bank of Canada has a 1-year low of $79.75 and a 1-year high of $99.90. The stock has a market cap of $135.95 billion and a PE ratio of 12.74. The stock’s 50 day moving average is $93.80 and its 200-day moving average is $95.01.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.90%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87.

In other Royal Bank of Canada news, insider Jennifer Anne Tory sold 361 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of C$93.20, for a total transaction of C$33,645.20. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total value of C$2,783,700.00. Insiders sold a total of 46,116 shares of company stock valued at $4,280,680 over the last three months.

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.

Earnings History and Estimates for Royal Bank of Canada (TSE:RY)

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