Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$127.11 and traded as high as C$137.26. Royal Bank of Canada shares last traded at C$135.66, with a volume of 3,803,987 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. CIBC cut their price objective on 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. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. National Bankshares increased their target price on Royal Bank of Canada from C$135.00 to C$148.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Bank of America upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating and increased their target price for the stock from C$130.00 to C$146.00 in a research note on Monday, December 18th. Finally, BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their target price for the stock from C$140.00 to C$150.00 in a research note on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$137.65.
Check Out Our Latest Stock Analysis on Royal Bank of Canada
Royal Bank of Canada Trading Down 1.2 %
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of C$13.49 billion for the quarter, compared to analyst estimates of C$13.65 billion. Equities analysts anticipate that Royal Bank of Canada will post 11.461602 earnings per share for the current year.
Royal Bank of Canada Announces Dividend
The firm 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. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 annualized dividend and a dividend yield of 4.07%. Royal Bank of Canada’s payout ratio is 51.30%.
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.
Read More
- Five stocks we like better than Royal Bank of Canada
- What Are Dividends? Buy the Best Dividend Stocks
- You Can Follow BlackRock’s Market View for Your Money
- About the Markup Calculator
- Breakout Alert: Coinbase’s Consolidation Is About To End
- Roth IRA Calculator: Calculate Your Potential Returns
- 3 Key Stocks Helping to Drive the EV Race
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.