Q3 2024 EPS Estimates for Royal Bank of Canada Cut by National Bank Financial (TSE:RY)

Royal Bank of Canada (TSE:RYFree Report) (NYSE:RY) – Analysts at National Bank Financial dropped their Q3 2024 earnings per share (EPS) estimates for Royal Bank of Canada in a research note issued to investors on Thursday, May 30th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will earn $3.03 per share for the quarter, down from their prior forecast of $3.08. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $11.15 per share. National Bank Financial also issued estimates for Royal Bank of Canada’s Q4 2024 earnings at $3.05 EPS, FY2024 earnings at $11.84 EPS and FY2025 earnings at $13.33 EPS.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group increased their target price on Royal Bank of Canada from C$157.00 to C$159.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity Group increased their target price on 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. CIBC increased their target price on 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. Scotiabank increased their target price on Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$140.00 to C$150.00 in a research note 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 given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$143.38.

View Our Latest Research Report on RY

Royal Bank of Canada Stock Up 0.5 %

Shares of RY opened at C$148.98 on Monday. The business has a 50-day simple moving average of C$138.74 and a two-hundred day simple moving average of C$133.42. The stock has a market cap of C$210.06 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$149.22.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be issued a dividend of $1.42 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 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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