Wall Street brokerages predict that Royal Bank Of Canada (NYSE:RY) (TSE:RY) will announce $7.68 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued 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 suggests a positive year-over-year growth rate of 8.2%. The firm is scheduled to report its next earnings report on Wednesday, November 29th.

According to Zacks, analysts expect that Royal Bank Of Canada will report full-year sales of $7.68 billion for the current fiscal year, with estimates ranging from $29.85 billion to $31.72 billion. For the next year, analysts anticipate that the firm will report sales of $31.59 billion per share, with estimates ranging from $30.79 billion to $32.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow 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 Zacks’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The company had revenue of $7.43 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period in the prior year, the firm posted $1.72 earnings per share.

Several research firms recently weighed in on RY. BidaskClub upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Wednesday, July 19th. Canaccord Genuity began coverage on Royal Bank Of Canada in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Howard Weil lowered Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. Finally, Scotiabank lowered Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Royal Bank Of Canada currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Shares of Royal Bank Of Canada (NYSE RY) opened at 78.35 on Wednesday. Royal Bank Of Canada has a 1-year low of $60.92 and a 1-year high of $78.42. The stock has a market capitalization of $114.23 billion, a price-to-earnings ratio of 13.01 and a beta of 1.06. The company’s 50 day moving average is $75.04 and its 200-day moving average is $72.47.

The company 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 dividend of $0.724 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, October 25th. This represents a $2.90 annualized dividend and a yield of 3.70%. Royal Bank Of Canada’s payout ratio is 50.36%.

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A number of hedge funds have recently modified their holdings of RY. Bank of Nova Scotia boosted its position in Royal Bank Of Canada by 0.9% in the 1st quarter. Bank of Nova Scotia now owns 26,959,386 shares of the financial services provider’s stock valued at $1,964,276,000 after buying an additional 235,793 shares during the last quarter. Lincluden Management Ltd. increased its position in shares of Royal Bank Of Canada by 16.4% during the first quarter. Lincluden Management Ltd. now owns 1,304,099 shares of the financial services provider’s stock worth $94,875,000 after acquiring an additional 183,706 shares during the last quarter. Stevens Capital Management LP increased its position in shares of Royal Bank Of Canada by 585.6% during the second quarter. Stevens Capital Management LP now owns 69,592 shares of the financial services provider’s stock worth $5,047,000 after acquiring an additional 59,441 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Royal Bank Of Canada by 65.5% during the second quarter. JPMorgan Chase & Co. now owns 1,433,160 shares of the financial services provider’s stock worth $103,934,000 after acquiring an additional 567,152 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in shares of Royal Bank Of Canada by 81.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 29,627 shares of the financial services provider’s stock worth $2,149,000 after acquiring an additional 13,343 shares during the last quarter. Hedge funds and other institutional investors own 40.64% of the company’s stock.

About Royal Bank Of Canada

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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