Q3 2018 EPS Estimates for Royal Bank Of Canada Boosted by Analyst (RY)
Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Equities researchers at National Bank Financial increased their Q3 2018 earnings estimates for Royal Bank Of Canada in a note issued to investors on Wednesday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $1.61 for the quarter, up from their prior estimate of $1.60.
A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $102.00 target price on shares of Royal Bank Of Canada in a research report on Wednesday, November 29th. Canaccord Genuity restated a “hold” rating and set a $105.00 target price on shares of Royal Bank Of Canada in a research report on Wednesday, November 29th. Scotiabank restated a “hold” rating and set a $101.00 target price on shares of Royal Bank Of Canada in a research report on Wednesday, November 22nd. Zacks Investment Research downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Finally, Macquarie assumed coverage on Royal Bank Of Canada in a research report on Tuesday, October 24th. They set an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $93.60.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RY. Quadrant Capital Group LLC increased its holdings in Royal Bank Of Canada by 4.0% in the second 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 bought a new stake in Royal Bank Of Canada in the third quarter valued at about $153,000. Proficio Capital Partners LLC grew its stake in Royal Bank Of Canada by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 26 shares during the period. Asset Advisors Corp acquired a new position in Royal Bank Of Canada in the third quarter valued at about $178,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Royal Bank Of Canada in the second quarter valued at about $191,000. Institutional investors and hedge funds own 40.55% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be issued a $0.7157 dividend. 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 3.59%. Royal Bank Of Canada’s dividend payout ratio is presently 49.83%.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/04/q3-2018-eps-estimates-for-royal-bank-of-canada-boosted-by-analyst-ry.html.
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.
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.