Q2 2022 EPS Estimates for Royal Bank of Canada (NYSE:RY) Reduced by Desjardins

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) – Desjardins decreased their Q2 2022 earnings estimates for shares of Royal Bank of Canada in a research note issued to investors on Monday, May 9th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $2.09 per share for the quarter, down from their prior forecast of $2.13.

A number of other research analysts have also recently weighed in on the stock. StockNews.com started coverage on shares of Royal Bank of Canada in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Stifel Nicolaus dropped their target price on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. Canaccord Genuity Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their target price for the company from $141.00 to $148.00 in a research note on Monday, February 7th. Scotiabank dropped their target price on shares of Royal Bank of Canada from C$163.00 to C$150.00 in a research note on Wednesday, April 13th. Finally, CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Monday, April 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $143.34.

Royal Bank of Canada stock opened at $98.05 on Thursday. Royal Bank of Canada has a fifty-two week low of $95.02 and a fifty-two week high of $119.41. The stock has a market cap of $138.01 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. The firm’s 50-day simple moving average is $107.15 and its 200 day simple moving average is $107.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last released its quarterly earnings results on Thursday, February 24th. The financial services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.13. Royal Bank of Canada had a net margin of 28.16% and a return on equity of 18.28%. The business had revenue of $10.37 billion for the quarter.

A number of institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Royal Bank of Canada in the 4th quarter worth $1,635,969,000. National Bank of Canada FI bought a new position in shares of Royal Bank of Canada in the 4th quarter worth $460,138,000. GQG Partners LLC increased its holdings in shares of Royal Bank of Canada by 75.9% in the 3rd quarter. GQG Partners LLC now owns 8,618,708 shares of the financial services provider’s stock worth $857,379,000 after buying an additional 3,718,130 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Royal Bank of Canada by 90.4% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 6,354,851 shares of the financial services provider’s stock worth $631,564,000 after buying an additional 3,017,982 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. increased its holdings in shares of Royal Bank of Canada by 32.9% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 11,225,245 shares of the financial services provider’s stock worth $1,236,429,000 after buying an additional 2,779,909 shares during the last quarter. 41.50% of the stock is currently owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Monday, April 25th will be issued a dividend of $0.944 per share. This represents a $3.78 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend is Friday, April 22nd. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. Royal Bank of Canada’s dividend payout ratio is 42.71%.

Royal Bank of Canada Company Profile (Get Rating)

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.

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

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