Royal Bank of Canada (TSE:RY) Issues Quarterly Earnings Results

Royal Bank of Canada (TSE:RY) (NYSE:RY) issued its earnings results on Thursday. The financial services provider reported C$3.90 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$17.45 billion for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.

Royal Bank of Canada Price Performance

Shares of RY opened at C$264.44 on Friday. The stock has a market capitalization of C$367.71 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10. The business’s 50 day simple moving average is C$241.24 and its 200-day simple moving average is C$231.99.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, April 23rd. Royal Bank of Canada’s dividend payout ratio is 42.58%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RY shares. Raymond James Financial lifted their target price on Royal Bank of Canada from C$265.50 to C$270.50 and gave the company a “market perform” rating in a research note on Friday. Scotiabank lifted their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Barclays lifted their target price on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a research note on Friday. Jefferies Financial Group lifted their target price on Royal Bank of Canada from C$226.00 to C$232.00 in a research note on Wednesday, May 20th. Finally, Canadian Imperial Bank of Commerce lifted their target price on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$258.50.

Key Headlines Impacting Royal Bank of Canada

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Barclays raised its price target to C$260 and kept an overweight rating, signaling continued confidence in Royal Bank of Canada’s outlook. Barclays price target hike
• Positive Sentiment: Desjardins lifted its target to C$275 and reiterated a buy rating, implying more upside from current levels. Desjardins price target hike
• Positive Sentiment: Canaccord Genuity increased its target to C$280 and maintained a buy rating, reflecting a constructive view after the earnings release. Canaccord Genuity price target hike
• Positive Sentiment: TD raised its target to C$272 and kept a buy rating, adding to the broad analyst support. TD price target hike
• Neutral Sentiment: Raymond James boosted its target to C$270.50 but held a market perform rating, suggesting limited immediate upside despite better estimates. Raymond James price target hike
• Neutral Sentiment: CIBC raised its target to C$279 while keeping a neutral rating, indicating valuation may already reflect much of the near-term strength. CIBC price target hike

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Bruce Washington Ross sold 3,657 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total transaction of C$957,512.31. Following the completion of the transaction, the insider owned 235 shares in the company, valued at C$61,530.05. The trade was a 93.96% decrease in their position. Also, insider Jennifer Kristine Publicover sold 439 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$261.83, for a total value of C$114,943.37. Following the transaction, the insider owned 152 shares of the company’s stock, valued at approximately C$39,798.16. The trade was a 74.28% decrease in their position. Over the last ninety days, insiders sold 58,220 shares of company stock worth $14,690,362.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.