Q4 2024 EPS Estimates for Royal Bank of Canada (TSE:RY) Boosted by Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Desjardins lifted their Q4 2024 EPS estimates for shares of Royal Bank of Canada in a report released on Wednesday, August 28th. Desjardins analyst D. Young now forecasts that the financial services provider will earn $2.82 per share for the quarter, up from their previous forecast of $2.81. Desjardins currently has a “Buy” rating and a $163.00 price objective on the stock. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.86 per share.

Other analysts have also issued research reports about the company. Cormark increased their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Barclays raised their target price on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. TD Securities raised their price objective on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. Finally, Scotiabank cut their target price on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$161.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$162.98 on Monday. The company has a market cap of C$231.43 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$163.06. The stock’s 50 day simple moving average is C$151.78 and its two-hundred day simple moving average is C$143.01.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The company had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Bruce Washington Ross sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the transaction, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,133.12. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of Royal Bank of Canada stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the completion of the transaction, the insider now owns 235 shares in the company, valued at approximately C$33,133.12. In the last 90 days, insiders have sold 101,302 shares of company stock valued at $14,592,565.

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.