Erste Group Bank Has Negative Outlook for RY FY2027 Earnings

Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Analysts at Erste Group Bank reduced their FY2027 earnings per share estimates for Royal Bank Of Canada in a report released on Thursday, June 25th. Erste Group Bank analyst H. Engel now expects that the financial services provider will earn $12.33 per share for the year, down from their prior forecast of $12.57. The consensus estimate for Royal Bank Of Canada’s current full-year earnings is $11.45 per share.

A number of other brokerages also recently issued reports on RY. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Weiss Ratings cut Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 0.6%

Shares of RY stock opened at $208.18 on Thursday. The stock has a market cap of $289.32 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.64 and a beta of 0.79. The stock has a 50-day moving average of $190.34 and a 200-day moving average of $175.99. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 1-year low of $127.38 and a 1-year high of $209.37.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 EPS.

Institutional Investors Weigh In On Royal Bank Of Canada

Several institutional investors and hedge funds have recently made changes to their positions in RY. Eastern Bank grew its stake in Royal Bank Of Canada by 428.5% during the second quarter. Eastern Bank now owns 1,649 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 1,337 shares during the period. Ravenstone Capital Management Inc. lifted its stake in Royal Bank Of Canada by 0.9% in the first quarter. Ravenstone Capital Management Inc. now owns 74,328 shares of the financial services provider’s stock valued at $11,978,000 after buying an additional 630 shares during the period. Western Wealth Management LLC lifted its stake in Royal Bank Of Canada by 16.8% in the first quarter. Western Wealth Management LLC now owns 2,046 shares of the financial services provider’s stock valued at $331,000 after buying an additional 294 shares during the period. Rathbones Group PLC boosted its holdings in shares of Royal Bank Of Canada by 4.5% during the 1st quarter. Rathbones Group PLC now owns 339,711 shares of the financial services provider’s stock worth $54,741,000 after buying an additional 14,697 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 4.1% during the 1st quarter. Parallel Advisors LLC now owns 7,258 shares of the financial services provider’s stock worth $1,174,000 after buying an additional 287 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

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.