Equities analysts expect Royal Bank Of Canada (NYSE:RY) (TSE:RY) to report sales of $7.68 billion for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Royal Bank Of Canada’s earnings. The highest sales estimate is $7.84 billion and the lowest is $7.51 billion. Royal Bank Of Canada posted sales of $7.10 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The business is scheduled to announce its next quarterly earnings report on Wednesday, November 29th.

On average, analysts expect that Royal Bank Of Canada will report full-year sales of $7.68 billion for the current year, with estimates ranging from $29.85 billion to $31.72 billion. For the next fiscal year, analysts forecast that the firm will post sales of $31.59 billion per share, with estimates ranging from $30.79 billion to $32.38 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Royal Bank Of Canada.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The business had revenue of $7.43 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share.

RY has been the topic of a number of analyst reports. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Wednesday, July 19th. Canaccord Genuity began coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. Howard Weil lowered shares of Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Finally, Scotiabank lowered shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $80.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RY. Quadrant Capital Group LLC lifted its stake in Royal Bank Of Canada by 4.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 65 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Royal Bank Of Canada in the 1st quarter worth approximately $123,000. Proficio Capital Partners LLC lifted its stake in Royal Bank Of Canada by 125.3% in the 1st quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,167 shares in the last quarter. Jolley Asset Management LLC lifted its stake in Royal Bank Of Canada by 1.0% in the 2nd quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 25 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new position in Royal Bank Of Canada in the 2nd quarter worth approximately $191,000. 40.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Royal Bank Of Canada (NYSE:RY) traded down 0.15% during trading on Friday, hitting $75.50. The stock had a trading volume of 937,786 shares. The firm has a 50 day moving average price of $74.22 and a 200 day moving average price of $72.16. Royal Bank Of Canada has a 12-month low of $60.57 and a 12-month high of $76.01. The firm has a market cap of $110.08 billion, a P/E ratio of 12.91 and a beta of 1.05.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be paid a $0.724 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 dividend on an annualized basis and a yield of 3.84%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 48.55%.

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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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Earnings History and Estimates for Royal Bank Of Canada (NYSE:RY)

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