Analysts Expect Royal Bank of Canada (NYSE:RY) to Announce $2.11 EPS

Equities research analysts expect Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) to report $2.11 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Royal Bank of Canada’s earnings. The lowest EPS estimate is $2.04 and the highest is $2.19. Royal Bank of Canada posted earnings per share of $2.44 during the same quarter last year, which would suggest a negative year over year growth rate of 13.5%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Royal Bank of Canada will report full-year earnings of $8.68 per share for the current year, with EPS estimates ranging from $8.34 to $8.97. For the next year, analysts forecast that the company will report earnings of $9.27 per share, with EPS estimates ranging from $8.95 to $9.62. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Royal Bank of Canada.

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) last released its earnings results on Thursday, February 24th. The financial services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $2.15 by $0.13. The firm had revenue of $10.37 billion during the quarter. Royal Bank of Canada had a return on equity of 18.28% and a net margin of 28.16%.

Several equities research analysts have commented on RY shares. Scotiabank dropped their price target on Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. TD Securities dropped their price target on Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday. Canaccord Genuity Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the stock from $141.00 to $148.00 in a research note on Monday, February 7th. Zacks Investment Research lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Finally, Canaccord Genuity Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the stock from $141.00 to $148.00 in a research note on Monday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $144.05.

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC purchased a new position in Royal Bank of Canada in the fourth quarter valued at about $37,000. Stonehage Fleming Financial Services Holdings Ltd lifted its holdings in Royal Bank of Canada by 54.0% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock worth $40,000 after buying an additional 135 shares during the last quarter. Allegheny Financial Group LTD bought a new position in Royal Bank of Canada during the 4th quarter worth approximately $48,000. JFS Wealth Advisors LLC lifted its holdings in Royal Bank of Canada by 272.4% during the 1st quarter. JFS Wealth Advisors LLC now owns 473 shares of the financial services provider’s stock worth $52,000 after buying an additional 346 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Royal Bank of Canada during the 1st quarter worth approximately $55,000. 41.50% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada stock traded up $2.35 during trading on Friday, hitting $103.04. The company’s stock had a trading volume of 1,135,956 shares, compared to its average volume of 1,297,833. The stock has a market capitalization of $144.62 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.06 and a beta of 0.90. The stock’s fifty day moving average is $105.21 and its 200 day moving average is $107.35. Royal Bank of Canada has a 1-year low of $95.02 and a 1-year high of $119.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Tuesday, July 26th will be issued a $0.995 dividend. The ex-dividend date is Monday, July 25th. This represents a $3.98 dividend on an annualized basis and a yield of 3.86%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. Royal Bank of Canada’s dividend payout ratio is currently 42.71%.

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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