Royal Bank of Canada (TSE:RY) Stock Price Crosses Above 200-Day Moving Average of $129.62

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$129.62 and traded as high as C$139.65. Royal Bank of Canada shares last traded at C$138.65, with a volume of 7,237,381 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on RY shares. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$140.00 to C$150.00 in a research note on Friday, April 5th. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Scotiabank increased their target price on Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, CIBC cut their target price on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a research note on Friday, March 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$137.65.

Royal Bank of Canada Stock Down 0.4 %

The stock has a fifty day simple moving average of C$135.21 and a 200 day simple moving average of C$129.62. The firm has a market capitalization of C$195.50 billion, a P/E ratio of 12.87, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, beating analysts’ consensus estimates of C$2.79 by C$0.06. The business had revenue of C$13.49 billion for the quarter, compared to analysts’ expectations of C$13.65 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. Research analysts anticipate that Royal Bank of Canada will post 11.3055556 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 3.98%. Royal Bank of Canada’s payout ratio is 51.25%.

Royal Bank of Canada Company Profile

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.