Royal Bank Of Canada (NYSE:RY) Receives Average Recommendation of “Moderate Buy” from Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $162.00.

RY has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Natl Bk Canada raised Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Jefferies Financial Group lowered Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Cibc World Mkts lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Finally, Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $171.38 on Friday. The company has a market cap of $240.02 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $171.84. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day simple moving average of $154.87 and a 200-day simple moving average of $143.62.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. During the same quarter in the prior year, the firm posted $3.07 earnings per share. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be issued a $1.64 dividend. The ex-dividend date is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. Royal Bank Of Canada’s payout ratio is presently 44.07%.

Hedge Funds Weigh In On Royal Bank Of Canada

Large investors have recently bought and sold shares of the stock. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. Toth Financial Advisory Corp acquired a new position in Royal Bank Of Canada in the third quarter valued at $29,000. True Wealth Design LLC purchased a new stake in Royal Bank Of Canada during the third quarter valued at about $31,000. Atlantic Union Bankshares Corp acquired a new stake in Royal Bank Of Canada during the third quarter worth about $38,000. Finally, CoreCap Advisors LLC increased its stake in Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.