Wall Street analysts expect Royal Bank Of Canada (NYSE:RY) (TSE:RY) to post $7.68 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided 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 during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is expected to announce its next quarterly earnings results 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 financial year, with estimates ranging from $29.85 billion to $31.72 billion. For the next financial year, analysts forecast that the firm will report sales of $31.59 billion per share, with estimates ranging from $30.79 billion to $32.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Royal Bank Of Canada.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share (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 for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share.

A number of equities analysts have recently issued reports on RY shares. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Howard Weil downgraded shares of Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Scotiabank downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Finally, Canaccord Genuity started coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Royal Bank Of Canada has a consensus rating of “Hold” and an average price target of $80.00.

Royal Bank Of Canada (RY) opened at 80.26 on Monday. The stock has a market capitalization of $117.01 billion, a price-to-earnings ratio of 13.33 and a beta of 1.06. Royal Bank Of Canada has a 12-month low of $60.92 and a 12-month high of $80.98. The stock’s 50 day moving average is $77.05 and its 200 day moving average is $73.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $0.724 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $2.90 dividend on an annualized basis and a yield of 3.61%. Royal Bank Of Canada’s dividend payout ratio is presently 50.36%.

Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its position in Royal Bank Of Canada by 4.0% during the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 65 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in Royal Bank Of Canada during the second quarter valued at approximately $191,000. Proficio Capital Partners LLC lifted its position in Royal Bank Of Canada by 125.3% during the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,167 shares during the last quarter. Asset Advisors Corp purchased a new stake in Royal Bank Of Canada during the third quarter valued at approximately $178,000. Finally, Jolley Asset Management LLC lifted its position in Royal Bank Of Canada by 1.0% during the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 25 shares during the last quarter. 40.63% of the stock is owned by institutional investors.

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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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