Royal Bank Of Canada (NYSE:RY) Issues Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) released its quarterly earnings results on Thursday. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03, Zacks reports. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $188.98 on Thursday. Royal Bank Of Canada has a 1 year low of $124.19 and a 1 year high of $191.51. The firm’s 50 day moving average is $174.22 and its 200-day moving average is $168.00. The firm has a market capitalization of $264.13 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.49 and a beta of 0.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RY. Sivia Capital Partners LLC lifted its holdings in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the period. Brighton Jones LLC raised its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the period. Evolve Private Wealth LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter worth $205,000. Wealthspire Advisors LLC raised its holdings in Royal Bank Of Canada by 820.8% in the fourth quarter. Wealthspire Advisors LLC now owns 1,326 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,182 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter worth $99,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.