Royal Bank of Canada (TSE:RY) Plans $1.38 Quarterly Dividend

Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Thursday, April 25th will be given a dividend of 1.38 per share by the financial services provider on Friday, May 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, April 24th.

Royal Bank of Canada Stock Up 0.8 %

Shares of TSE:RY opened at C$134.57 on Monday. The company has a market cap of C$189.74 billion, a P/E ratio of 12.49, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$140.77. The company has a 50-day moving average price of C$134.29 and a 200 day moving average price of C$127.86.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, beating analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The firm had revenue of C$13.49 billion during the quarter, compared to the consensus estimate of C$13.65 billion. Analysts expect that Royal Bank of Canada will post 11.305 EPS for the current year.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research reports. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$140.00 to C$150.00 in a research report on Friday, April 5th. Finally, CIBC reduced their price target on shares of Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$137.65.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.