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

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$137.65.

Several brokerages have commented on RY. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$140.00 to C$150.00 in a research note on Friday, April 5th. Scotiabank increased their price target on Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. CIBC cut their price target on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating for the company in a report on Friday, March 8th. Finally, Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a report on Thursday, February 29th.

Royal Bank of Canada Stock Up 0.5 %

TSE RY opened at C$134.14 on Friday. The business has a 50-day moving average price of C$134.66 and a 200-day moving average price of C$128.36. The firm has a market cap of C$189.14 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$140.77.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The firm had revenue of C$13.49 billion for the quarter, compared to analysts’ expectations of C$13.65 billion. Research analysts expect that Royal Bank of Canada will post 11.305 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 annualized dividend and a dividend yield of 4.12%. Royal Bank of Canada’s payout ratio is 51.25%.

About Royal Bank of Canada

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.