Royal Bank of Canada (RY) Set to Announce Earnings on Wednesday

Royal Bank of Canada (TSE:RY) (NYSE:RY) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, December 4th. Analysts expect Royal Bank of Canada to post earnings of C$2.99 per share for the quarter.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$176.16 on Monday. The firm has a market cap of C$248.39 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52 week low of C$120.28 and a 52 week high of C$176.27. The firm’s fifty day moving average is C$170.78 and its 200-day moving average is C$157.99.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were issued a $1.42 dividend. The ex-dividend date was Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.22%. Royal Bank of Canada’s payout ratio is 50.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research report on Monday, November 18th. Bank of America raised their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. CIBC increased their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Jefferies Financial Group dropped their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Desjardins increased their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$175.92.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,174.03. This represents a 99.67 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. In the last quarter, insiders sold 144,770 shares of company stock valued at $23,959,265.

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.