What is Cormark’s Estimate for TSE:RY Q4 Earnings?

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at Cormark issued their Q4 2024 earnings estimates for shares of Royal Bank of Canada in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the financial services provider will earn $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

A number of other research analysts have also weighed in on RY. Bank of America raised their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. National Bankshares boosted their target price on Royal Bank of Canada from C$169.00 to C$181.00 in a research note on Wednesday, November 20th. CIBC increased their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday. Jefferies Financial Group cut their price target 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 report on Monday, August 12th. Finally, Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$175.92.

Royal Bank of Canada Trading Up 0.6 %

Shares of TSE:RY opened at C$175.77 on Wednesday. The stock has a market cap of C$247.84 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock’s fifty day simple moving average is C$170.42 and its two-hundred day simple moving average is C$157.50. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.77.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) 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 analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 25 shares in the company, valued at C$4,115. This trade represents a 99.75 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In the last ninety days, insiders sold 144,770 shares of company stock valued at $23,959,265.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada’s 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.