Royal Bank Of Canada (NYSE:RY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Royal Bank Of Canada (NYSE:RYGet Free Report) (TSE:RY) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $162.00.

RY has been the topic of a number of analyst reports. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Natl Bk Canada upgraded Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th.

Check Out Our Latest Research Report on RY

Key Headlines Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $169.43 on Monday. The company has a market capitalization of $236.81 billion, a P/E ratio of 16.89, a PEG ratio of 1.20 and a beta of 0.79. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $176.19. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $169.13 and a two-hundred day moving average price of $153.36.

Royal Bank Of Canada (NYSE:RYGet Free Report) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. During the same quarter last year, the business earned $3.07 earnings per share. The business’s revenue was up 14.2% on a year-over-year basis. Analysts expect 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 declared 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. This represents a $6.56 annualized dividend and a yield of 3.9%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 47.66%.

Institutional Investors Weigh In On Royal Bank Of Canada

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Royal Bank Of Canada in the fourth quarter worth about $3,472,382,000. Canerector Inc. grew its holdings in shares of Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after acquiring an additional 13,267,800 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Royal Bank Of Canada by 1,218.0% in the 2nd quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock valued at $752,937,000 after purchasing an additional 5,289,330 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $329,983,000. Finally, Vanguard Group Inc. boosted its position in shares of Royal Bank Of Canada by 3.9% during the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after purchasing an additional 2,437,164 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Royal Bank Of Canada (NYSE:RY)

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