Equities Analysts Offer Predictions for Royal Bank Of Canada’s Q1 2018 Earnings (RY)
Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Equities researchers at Desjardins issued their Q1 2018 earnings per share estimates for shares of Royal Bank Of Canada in a research note issued to investors on Wednesday. Desjardins analyst D. Young forecasts that the financial services provider will post earnings per share of $1.49 for the quarter. Desjardins also issued estimates for Royal Bank Of Canada’s Q2 2018 earnings at $1.58 EPS, Q3 2018 earnings at $1.58 EPS, Q4 2018 earnings at $1.56 EPS and FY2019 earnings at $6.68 EPS.
Other analysts have also issued reports about the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $105.00 target price on shares of Royal Bank Of Canada in a research report on Wednesday. BidaskClub downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. BMO Capital Markets reiterated a “hold” rating and set a $102.00 price target on shares of Royal Bank Of Canada in a research note on Wednesday. Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Finally, Scotiabank reiterated a “hold” rating and set a $101.00 price target on shares of Royal Bank Of Canada in a research note on Wednesday, November 22nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $93.60.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Thursday, January 25th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $2.86 dividend on an annualized basis and a yield of 3.66%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 48.98%.
Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its stake in Royal Bank Of Canada by 4.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 65 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $153,000. Proficio Capital Partners LLC boosted its stake in shares of Royal Bank Of Canada by 1.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock worth $159,000 after buying an additional 26 shares during the last quarter. Asset Advisors Corp purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $178,000. Finally, Mckinley Capital Management LLC Delaware purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $191,000. Institutional investors and hedge funds own 40.55% of the company’s stock.
WARNING: “Equities Analysts Offer Predictions for Royal Bank Of Canada’s Q1 2018 Earnings (RY)” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/01/equities-analysts-offer-predictions-for-royal-bank-of-canadas-q1-2018-earnings-ry.html.
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.
Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.