Q2 2018 EPS Estimates for Royal Bank of Canada (RY) Decreased by National Bank Financial
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.
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