Royal Bank of Canada (TSE:RY) Stock Price Passes Above 200-Day Moving Average of $128.67

Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$128.67 and traded as high as C$134.75. Royal Bank of Canada shares last traded at C$134.01, with a volume of 3,942,285 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price objective for the company from C$140.00 to C$150.00 in a report on Friday, April 5th. Scotiabank lifted their price objective 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. CIBC dropped their target price on shares of Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. Finally, Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$137.65.

Royal Bank of Canada Stock Down 0.1 %

The firm has a market capitalization of C$188.95 billion, a P/E ratio of 12.44, a PEG ratio of 10.64 and a beta of 0.83. The business’s 50 day moving average is C$134.70 and its 200-day moving average is C$128.67.

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 earnings per share for the quarter, topping the consensus estimate of C$2.79 by C$0.06. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The business had revenue of C$13.49 billion during the quarter, compared to the consensus estimate of C$13.65 billion. Research analysts forecast that Royal Bank of Canada will post 11.305 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is 51.25%.

About Royal Bank of Canada

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.