Royal Bank Of Canada (NYSE:RY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $193.00.

RY has been the topic of a number of recent research reports. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a “sector outperform” rating on the stock. CIBC reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. 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. Finally, Cibc World Mkts raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd.

Institutional Trading of Royal Bank Of Canada

Institutional investors have recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at $25,000. WealthTrak Capital Management LLC bought a new stake in Royal Bank Of Canada during the fourth quarter valued at $28,000. Sunbelt Securities Inc. increased its stake in Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Royal Bank Of Canada during the first quarter valued at $32,000. Finally, Optiver Holding B.V. bought a new stake in Royal Bank Of Canada during the fourth quarter valued at $35,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.8%

Shares of RY stock opened at $132.18 on Friday. The stock has a market cap of $186.45 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a fifty-two week low of $102.89 and a fifty-two week high of $132.69. The firm’s 50 day moving average price is $126.17 and its two-hundred day moving average price is $120.40.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.92 earnings per share. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a $1.1152 dividend. The ex-dividend date is Thursday, July 24th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.37%. Royal Bank Of Canada’s dividend payout ratio is currently 45.67%.

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.