Royal Bank of Canada (NYSE:RY) Receives $142.50 Consensus Target Price from Analysts

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned an average rating of “Buy” from the seven analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $142.50.

RY has been the subject of several research analyst reports. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. UBS Group initiated coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They issued a “buy” rating for the company. Finally, BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th.

Institutional Investors Weigh In On Royal Bank of Canada

Several institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new stake in Royal Bank of Canada in the 4th quarter worth about $464,000. Capital Research Global Investors purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $34,537,000. Capital World Investors bought a new stake in Royal Bank of Canada during the fourth quarter worth $365,246,000. Waterloo Capital L.P. boosted its position in Royal Bank of Canada by 30.2% in the fourth quarter. Waterloo Capital L.P. now owns 3,726 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 865 shares during the last quarter. Finally, Ossiam grew its stake in Royal Bank of Canada by 33.7% in the 4th quarter. Ossiam now owns 108,918 shares of the financial services provider’s stock valued at $11,069,000 after purchasing an additional 27,460 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.8 %

Shares of NYSE:RY opened at $122.42 on Friday. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $125.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The business’s 50-day moving average is $117.35 and its 200-day moving average is $108.86. The company has a market capitalization of $173.23 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.00 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Equities research analysts predict that Royal Bank of Canada will post 8.97 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.99%.

About Royal Bank of Canada

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.