Royal Bank of Canada (TSE:RY) Given New C$136.00 Price Target at Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target reduced by Desjardins from C$141.00 to C$136.00 in a research note issued to investors on Monday, BayStreet.CA reports. Desjardins currently has a buy rating on the financial services provider’s stock.

A number of other equities analysts have also issued reports on RY. Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$128.50 to C$135.00 and gave the stock a hold rating in a research report on Monday, July 24th. Scotiabank cut their target price on shares of Royal Bank of Canada from C$143.00 to C$141.00 and set an outperform rating for the company in a report on Monday, August 21st. Veritas Investment Research lowered shares of Royal Bank of Canada from a buy rating to a reduce rating and cut their target price for the company from C$140.00 to C$122.00 in a report on Friday, August 25th. Morningstar lowered shares of Royal Bank of Canada from a buy rating to a hold rating and lifted their target price for the company from C$129.00 to C$130.00 in a report on Friday, August 25th. Finally, CIBC cut their target price on shares of Royal Bank of Canada from C$139.00 to C$129.00 and set a neutral rating for the company in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of C$134.16.

Royal Bank of Canada Stock Up 0.1 %

RY stock opened at C$116.22 on Monday. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$140.18. The stock has a market capitalization of C$162.71 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 6.86 and a beta of 0.78. The firm has a 50 day moving average of C$117.31 and a 200 day moving average of C$123.58.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, August 24th. The financial services provider reported C$2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.68 by C$0.16. Royal Bank of Canada had a net margin of 27.28% and a return on equity of 13.51%. The company had revenue of C$14.49 billion during the quarter, compared to analyst estimates of C$12.89 billion. On average, equities research analysts expect that Royal Bank of Canada will post 11.7936992 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 24th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 4.65%. The ex-dividend date is Wednesday, October 25th. Royal Bank of Canada’s payout ratio is presently 52.17%.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 4,131 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of C$111.32, for a total transaction of C$459,862.92.

About Royal Bank of Canada

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.