Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$262.96.

Several brokerages have recently issued reports on RY. TD lifted their price target on Royal Bank of Canada from C$267.00 to C$272.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group raised their price objective on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Raymond James Financial lifted their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research report on Friday, May 29th. National Bank Financial boosted their target price on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a report on Friday, May 29th.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$293.67 on Friday. The company’s 50 day simple moving average is C$281.00 and its 200 day simple moving average is C$249.98. The stock has a market capitalization of C$408.10 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 1 year low of C$175.50 and a 1 year high of C$306.38.

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 EPS for the quarter. The business had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. As a group, analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 24th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.64. Royal Bank of Canada’s dividend payout ratio is currently 41.35%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, insider Neil Mclaughlin sold 4,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. Also, insider Bruce Washington Ross sold 45,670 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the transaction, the insider owned 235 shares of the company’s stock, valued at C$68,880.85. This trade represents a 99.49% decrease in their ownership of the stock. Insiders sold a total of 324,535 shares of company stock valued at $91,717,140 in the last quarter.

Royal Bank of Canada Company Profile

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.