Royal Bank of Canada (NYSE:RY) Given Average Rating of “Moderate Buy” by Analysts

Royal Bank of Canada (NYSE:RY) (TSE:RY) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $193.00.

A number of brokerages recently commented on RY. CIBC reiterated an “outperform” rating on shares of Royal Bank of Canada in a research report on Tuesday, May 20th. National Bank Financial cut shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Wall Street Zen cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Scotiabank began coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Finally, Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd.

Hedge Funds Weigh In On Royal Bank of Canada

Several hedge funds and other institutional investors have recently modified their holdings of RY. Brighton Jones LLC increased its position in shares of Royal Bank of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. Kingsview Wealth Management LLC increased its position in shares of Royal Bank of Canada by 7.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 3,685 shares of the financial services provider’s stock valued at $444,000 after buying an additional 262 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Royal Bank of Canada by 21.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 1,623 shares of the financial services provider’s stock valued at $196,000 after buying an additional 283 shares during the period. Stephens Inc. AR increased its position in shares of Royal Bank of Canada by 6.4% during the fourth quarter. Stephens Inc. AR now owns 10,268 shares of the financial services provider’s stock valued at $1,237,000 after buying an additional 616 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at about $70,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $128.31 on Wednesday. The stock has a market cap of $180.97 billion, a PE ratio of 15.53, a PEG ratio of 1.80 and a beta of 0.89. The company’s fifty day moving average is $120.68 and its 200 day moving average is $119.85. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $129.46. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. Royal Bank of Canada’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.92 EPS. Research analysts anticipate that Royal Bank of Canada will post 9.16 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a $1.1152 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.48%. Royal Bank of Canada’s payout ratio is presently 49.78%.

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.