Royal Bank of Canada (TSE:RY) Receives Average Recommendation of “Buy” from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given a consensus rating of “Buy” by the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$163.38.

A number of equities analysts recently commented on the stock. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research report on Monday, August 19th. Bank of America boosted their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. CIBC lifted their target price on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Jefferies Financial Group decreased their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Royal Bank of Canada Stock Performance

Royal Bank of Canada stock opened at C$170.42 on Wednesday. Royal Bank of Canada has a fifty-two week low of C$115.28 and a fifty-two week high of C$175.04. The firm’s fifty day moving average price is C$167.32 and its 200-day moving average price is C$153.30. The stock has a market cap of C$240.29 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The firm 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%. On average, analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be paid 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 is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.31%.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,115. This represents a 0.00 % decrease in their position. In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction on 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. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,115. This trade represents a 0.00 % decrease in their ownership of the stock. Insiders have sold 144,770 shares of company stock worth $23,959,265 over the last ninety days.

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.