Brokers Set Expectations for Royal Bank of Canada’s Q2 2018 Earnings (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Cormark decreased their Q2 2018 earnings per share (EPS) estimates for Royal Bank of Canada in a note issued to investors on Monday, May 14th. Cormark analyst M. Grauman now anticipates that the financial services provider will post earnings per share of $2.11 for the quarter, down from their previous forecast of $2.13.

A number of other equities analysts have also recently issued reports on the stock. Barclays lifted their target price on shares of Royal Bank of Canada from C$100.00 to C$103.00 in a research report on Monday, February 26th. Canaccord Genuity lifted their target price on shares of Royal Bank of Canada from C$107.00 to C$109.00 in a research report on Monday, February 26th. CSFB lifted their target price on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a research report on Friday, January 19th. BMO Capital Markets restated a “market perform” rating and set a C$106.00 target price on shares of Royal Bank of Canada in a research report on Monday, February 26th. Finally, CIBC cut shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$113.00 to C$114.00 in a research report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of C$110.80.

Shares of Royal Bank of Canada opened at C$100.57 on Thursday, according to MarketBeat Ratings. Royal Bank of Canada has a 52 week low of C$90.13 and a 52 week high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Friday, February 23rd. The financial services provider reported C$2.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.97 by C$0.20. Royal Bank of Canada had a net margin of 26.17% and a return on equity of 16.49%. The firm had revenue of C$10.83 billion during the quarter, compared to analysts’ expectations of C$9.82 billion.

In other news, Director David Ian Mckay sold 10,282 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of C$102.31, for a total value of C$1,051,951.42. Also, insider Helena Gottschling sold 1,080 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$102.51, for a total transaction of C$110,710.80. In the last three months, insiders bought 900 shares of company stock valued at $69,558 and sold 38,078 shares valued at $3,866,839.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, April 25th will be given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.91.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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

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