Royal Bank of Canada (TSE:RY) Receives C$163.38 Average PT from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average rating of “Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$163.38.

A number of equities analysts have weighed in on the stock. TD Securities boosted their target price on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. National Bankshares upped their price objective on Royal Bank of Canada from C$160.00 to C$169.00 in a report on Thursday, August 29th. Desjardins lifted their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Cormark boosted their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Finally, UBS Group set a C$165.00 price target on Royal Bank of Canada and gave the company a “buy” rating in a report on Tuesday, July 2nd.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This represents a 0.00 % decrease in their ownership of the stock. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at C$4,174.03. This trade represents a 0.00 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders sold a total of 144,770 shares of company stock worth $23,959,265 over the last ninety days.

Royal Bank of Canada Trading Up 2.0 %

RY opened at C$170.38 on Friday. The business has a 50 day moving average of C$160.65 and a 200-day moving average of C$149.33. The stock has a market capitalization of C$240.24 billion, a price-to-earnings ratio of 15.09, a P/E/G ratio of 10.64 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$170.53.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Equities analysts predict that Royal Bank of Canada will post 12.8820355 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

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.