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

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) has received an average rating of “Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$149.55.

A number of equities research analysts have issued reports on RY shares. Fundamental Research decreased their target price on Royal Bank of Canada from C$152.07 to C$151.16 and set a “buy” rating for the company in a research report on Monday, March 7th. TD Securities upped their price target on Royal Bank of Canada from C$150.00 to C$165.00 in a report on Tuesday, February 15th. National Bankshares upped their price target on Royal Bank of Canada from C$140.00 to C$147.00 in a report on Wednesday, February 23rd. Credit Suisse Group reiterated an “outperform” rating and set a C$153.00 price target on shares of Royal Bank of Canada in a report on Friday. Finally, Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$148.00 to C$150.00 in a report on Thursday, February 17th.

Shares of TSE RY opened at C$127.25 on Friday. The stock has a market cap of C$180.26 billion and a price-to-earnings ratio of 11.32. The business has a 50 day simple moving average of C$134.79 and a 200 day simple moving average of C$136.46. Royal Bank of Canada has a 52 week low of C$123.01 and a 52 week high of C$149.60.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last announced its earnings results on Thursday, February 24th. The financial services provider reported C$2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.72 by C$0.15. The company had revenue of C$13.07 billion for the quarter. Analysts predict that Royal Bank of Canada will post 11.979999 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Monday, April 25th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, April 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.77%. Royal Bank of Canada’s payout ratio is 39.50%.

In other Royal Bank of Canada news, Senior Officer Helena Gottschling sold 404 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of C$135.38, for a total transaction of C$54,692.51. Following the completion of the transaction, the insider now directly owns 1,373 shares in the company, valued at C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of the stock in a transaction on Friday, May 20th. The stock was sold at an average price of C$127.00, for a total value of C$517,795.31. Following the sale, the director now owns 5,873 shares in the company, valued at approximately C$745,894.49. Insiders sold 17,116 shares of company stock valued at $2,339,528 over the last 90 days.

Royal Bank of Canada Company Profile (Get Rating)

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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