Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at Cormark boosted their Q1 2019 EPS estimates for Royal Bank of Canada in a report issued on Thursday, November 29th. Cormark analyst M. Grauman now expects that the financial services provider will earn $2.23 per share for the quarter, up from their prior forecast of $2.18. Cormark also issued estimates for Royal Bank of Canada’s Q2 2019 earnings at $2.24 EPS.
A number of other brokerages also recently issued reports on RY. National Bank Financial lifted their price target on Royal Bank of Canada from C$109.00 to C$111.00 and gave the stock an “outperform” rating in a report on Thursday, August 23rd. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$106.00 to C$110.00 and gave the stock a “market perform” rating in a research report on Thursday, August 23rd. CIBC lifted their target price on Royal Bank of Canada from C$109.00 to C$110.00 in a research report on Thursday, August 23rd. Eight Capital lifted their target price on Royal Bank of Canada from C$119.00 to C$122.00 in a research report on Thursday, August 23rd. Finally, Barclays lifted their target price on Royal Bank of Canada from C$99.00 to C$100.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$110.89.
Shares of TSE RY opened at C$97.42 on Monday. Royal Bank of Canada has a 1 year low of C$93.13 and a 1 year high of C$108.52.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, November 28th. The financial services provider reported C$2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.12 by C$0.12. The business had revenue of C$10.67 billion for the quarter, compared to analysts’ expectations of C$11.13 billion.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, January 24th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, January 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.97%.
In related news, insider Helena Gottschling sold 1,079 shares of the business’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of C$95.81, for a total value of C$103,378.99. Also, Director David Ian Mckay sold 10,280 shares of the business’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of C$95.83, for a total value of C$985,132.40. In the last quarter, insiders have bought 900 shares of company stock worth $69,849 and have sold 44,081 shares worth $4,421,560.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
Read More: What is the LIBOR?
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.