Royal Bank of Canada Forecasted to Earn Q2 2022 Earnings of $2.71 Per Share (TSE:RY)

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) – Research analysts at Cormark lifted their Q2 2022 earnings estimates for Royal Bank of Canada in a report released on Friday, May 20th. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $2.71 for the quarter, up from their previous estimate of $2.69. Cormark also issued estimates for Royal Bank of Canada’s FY2022 earnings at $11.35 EPS and FY2023 earnings at $12.13 EPS.

A number of other equities research analysts have also recently issued reports on RY. Fundamental Research reduced their target price on shares of 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. National Bankshares upped their price objective on shares of Royal Bank of Canada from C$140.00 to C$147.00 in a research report on Wednesday, February 23rd. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$148.00 to C$150.00 in a research report on Thursday, February 17th. CIBC cut their price objective on shares of Royal Bank of Canada from C$149.00 to C$146.00 in a research report on Tuesday, May 17th. Finally, Credit Suisse Group restated an “outperform” rating and set a C$153.00 target price on shares of Royal Bank of Canada in a research note on Friday. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$149.55.

RY stock opened at C$127.25 on Monday. Royal Bank of Canada has a one year low of C$123.01 and a one year high of C$149.60. The stock has a market cap of C$180.26 billion and a price-to-earnings ratio of 11.32. The company has a fifty day moving average price of C$134.79 and a two-hundred day moving average price of C$136.51.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last posted its quarterly earnings data 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 firm had revenue of C$13.07 billion for the quarter.

In other Royal Bank of Canada news, Director David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of C$141.68, for a total transaction of C$577,611.83. Following the completion of the transaction, the director now owns 5,873 shares in the company, valued at approximately C$832,061.39. Also, Senior Officer Helena Gottschling sold 404 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of C$141.65, for a total transaction of C$57,226.60. Following the transaction, the insider now directly owns 1,328 shares in the company, valued at approximately C$188,111.20. In the last 90 days, insiders have sold 17,116 shares of company stock valued at $2,339,528.

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

About Royal Bank of Canada (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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Earnings History and Estimates for Royal Bank of Canada (TSE:RY)

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