Royal Bank of Canada (NYSE:RY) Given Average Recommendation of “Buy” by Brokerages

Shares of Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) have been assigned a consensus rating of “Hold” from the sixteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $145.48.

A number of equities analysts have recently commented on the company. National Bank Financial lifted their price objective on Royal Bank of Canada from C$147.00 to C$148.00 in a research note on Friday. Scotiabank dropped their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. Canaccord Genuity Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $141.00 to $148.00 in a research note on Monday, February 7th. Stifel Nicolaus lowered their price target on Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. Finally, TD Securities lowered their price target on Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday.

Shares of NYSE:RY opened at $103.04 on Friday. Royal Bank of Canada has a fifty-two week low of $95.02 and a fifty-two week high of $119.41. The business has a 50-day moving average of $105.21 and a two-hundred day moving average of $107.35. The stock has a market capitalization of $144.62 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings data on Thursday, February 24th. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.13. The business had revenue of $10.37 billion for the quarter. Royal Bank of Canada had a return on equity of 18.28% and a net margin of 28.16%. As a group, research analysts expect that Royal Bank of Canada will post 8.67 EPS for the current fiscal year.

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

Several institutional investors and hedge funds have recently made changes to their positions in RY. Reynolds Investment Management Inc. acquired a new position in Royal Bank of Canada during the 1st quarter worth $596,000. BNP Paribas Arbitrage SA acquired a new position in Royal Bank of Canada during the 1st quarter worth $2,648,000. Beacon Pointe Advisors LLC acquired a new position in Royal Bank of Canada during the 1st quarter worth $1,311,000. Dynamic Technology Lab Private Ltd acquired a new position in Royal Bank of Canada during the 1st quarter worth $523,000. Finally, Eaton Vance Management lifted its holdings in Royal Bank of Canada by 36.2% during the 1st quarter. Eaton Vance Management now owns 164,109 shares of the financial services provider’s stock worth $18,092,000 after buying an additional 43,595 shares in the last quarter. 41.50% of the stock is currently owned by institutional investors and hedge funds.

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

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