Royal Bank of Canada (TSE:RY) Given Average Recommendation of “Moderate Buy” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$260.27.

A number of brokerages recently weighed in on RY. Canaccord Genuity Group lifted their price objective on shares of Royal Bank of Canada from C$270.00 to C$280.00 and gave the company a “buy” rating in a report on Friday, May 29th. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$226.00 to C$232.00 in a report on Wednesday, May 20th. National Bank Financial lifted their price objective on shares of Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Raymond James Financial lifted their price objective on shares of Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a report on Friday, May 29th. Finally, Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$252.00 to C$275.00 and gave the company a “sector outperform” rating in a report on Monday.

Royal Bank of Canada Price Performance

Shares of RY opened at C$265.81 on Thursday. Royal Bank of Canada has a 1-year low of C$173.39 and a 1-year high of C$266.74. The company has a 50-day moving average of C$243.85 and a 200 day moving average of C$233.37. The firm has a market capitalization of C$369.40 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The company had revenue of C$17.45 billion during the quarter. On average, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were issued a dividend of $1.64 per share. The ex-dividend date was Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 2.5%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.35%.

Insider Activity at Royal Bank of Canada

In other news, insider Bruce Washington Ross sold 3,657 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$957,512.31. Following the completion of the sale, the insider owned 235 shares in the company, valued at approximately C$61,530.05. The trade was a 93.96% decrease in their position. Also, insider Katherine Gibson sold 462 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total transaction of C$120,965.46. Following the completion of the sale, the insider owned 290 shares of the company’s stock, valued at approximately C$75,930.70. This represents a 61.44% decrease in their position. Insiders have sold a total of 58,220 shares of company stock worth $14,690,362 over the last ninety days.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.