Royal Bank of Canada (TSE:RY) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$145.71.

A number of analysts have recently commented on RY shares. National Bankshares upped their price target on Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Desjardins upped their price target on Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Argus raised Royal Bank of Canada to a “strong-buy” rating in a research note on Thursday, June 6th. TD Securities upped their price target on Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st.

Check Out Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Stock Up 1.0 %

Shares of TSE RY opened at C$150.86 on Thursday. The firm’s 50-day simple moving average is C$144.46 and its 200 day simple moving average is C$137.51. The company has a market cap of C$212.71 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$150.90.

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share for the quarter, topping the consensus estimate of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion during the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. On average, equities analysts expect that Royal Bank of Canada will post 11.1525292 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a yield of 3.77%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio is 51.54%.

Insider Activity

In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83. In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. In the last 90 days, insiders sold 101,302 shares of company stock valued at $14,592,565.

Royal Bank of Canada Company Profile

(Get Free Report

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.

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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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