Q3 2024 Earnings Forecast for Royal Bank of Canada (TSE:RY) Issued By Desjardins

Royal Bank of Canada (TSE:RYFree Report) (NYSE:RY) – Desjardins lowered their Q3 2024 EPS estimates for Royal Bank of Canada in a research note issued on Thursday, May 30th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $2.82 for the quarter, down from their previous estimate of $2.87. Desjardins currently has a “Buy” rating and a $156.00 price target on the stock. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $11.15 per share. Desjardins also issued estimates for Royal Bank of Canada’s Q4 2024 earnings at $2.81 EPS and FY2024 earnings at $11.40 EPS.

Several other equities research analysts have also recently weighed in on RY. Scotiabank increased their target price on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. TD Securities increased their price target on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday. CIBC increased their price target on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$140.00 to C$150.00 in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$143.38.

Read Our Latest Research Report on RY

Royal Bank of Canada Stock Performance

TSE RY opened at C$148.98 on Monday. The firm has a 50-day simple moving average of C$138.74 and a 200 day simple moving average of C$133.42. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$149.22. The stock has a market cap of C$210.06 billion, a PE ratio of 13.91, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be issued a $1.42 dividend. The ex-dividend date is Thursday, July 25th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.81%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.54%.

About Royal Bank of Canada

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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.

See Also

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

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