Royal Bank of Canada Forecasted to Earn Q1 2018 Earnings of $1.91 Per Share (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Analysts at Desjardins issued their Q1 2018 earnings per share (EPS) estimates for Royal Bank of Canada in a research report issued to clients and investors on Wednesday. Desjardins analyst D. Young forecasts that the financial services provider will post earnings of $1.91 per share for the quarter. Desjardins also issued estimates for Royal Bank of Canada’s Q2 2018 earnings at $2.02 EPS, Q3 2018 earnings at $2.02 EPS, Q4 2018 earnings at $2.00 EPS, FY2018 earnings at $7.95 EPS and FY2019 earnings at $8.55 EPS.
Other equities research analysts have also issued research reports about the stock. Scotiabank upped their price target on shares of Royal Bank of Canada from C$110.00 to C$111.00 and gave the company a “sector perform” rating in a research report on Thursday. National Bank Financial upped their price target on shares of Royal Bank of Canada from C$101.00 to C$105.00 and gave the company a “sector perform” rating in a research report on Thursday. Eight Capital upped their price target on shares of Royal Bank of Canada from C$105.00 to C$107.00 in a research report on Thursday. CSFB increased their target price on shares of Royal Bank of Canada from C$105.00 to C$108.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity increased their target price on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a report on Thursday. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of C$104.67.
In related news, Director David Ian Mckay sold 5,352 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of C$101.19, for a total value of C$541,568.88. Also, Director Thierry Vandal acquired 729 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of C$91.91 per share, with a total value of C$67,002.39. Insiders sold a total of 25,328 shares of company stock valued at $2,456,793 over the last three months.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.61%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio is 46.45%.
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About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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