Royal Bank Of Canada (NYSE:RY) (TSE:RY) - Investment analysts at National Bank Financial increased their Q3 2017 earnings estimates for Royal Bank Of Canada in a research note issued to investors on Thursday. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $1.46 per share for the quarter, up from their prior forecast of $1.35. National Bank Financial has a “Sector Perform Overweight” rating on the stock. National Bank Financial also issued estimates for Royal Bank Of Canada’s Q4 2017 earnings at $1.45 EPS, FY2017 earnings at $5.92 EPS, Q1 2018 earnings at $1.55 EPS, Q2 2018 earnings at $1.58 EPS and FY2018 earnings at $6.29 EPS.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $6.88 billion. Royal Bank Of Canada had a return on equity of 16.69% and a net margin of 23.16%. During the same period in the prior year, the business earned $1.66 EPS.
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Other analysts have also recently issued research reports about the company. Scotiabank cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday. Howard Weil cut Royal Bank Of Canada to a “sector perform” rating in a research report on Monday. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating for the company. BidaskClub cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research cut Royal Bank Of Canada from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. Royal Bank Of Canada has an average rating of “Hold” and an average target price of $87.57.
Royal Bank Of Canada (RY) opened at 73.32 on Monday. Royal Bank Of Canada has a 12-month low of $60.50 and a 12-month high of $76.01. The company has a market capitalization of $106.82 billion, a PE ratio of 12.67 and a beta of 1.07. The firm’s 50 day moving average price is $74.24 and its 200-day moving average price is $72.08.
Several institutional investors have recently made changes to their positions in RY. Greenleaf Trust acquired a new position in shares of Royal Bank Of Canada during the first quarter valued at $255,000. LaFleur & Godfrey LLC acquired a new position in shares of Royal Bank Of Canada during the first quarter valued at $3,947,000. Wetherby Asset Management Inc. raised its position in shares of Royal Bank Of Canada by 8.5% in the first quarter. Wetherby Asset Management Inc. now owns 12,274 shares of the financial services provider’s stock valued at $895,000 after buying an additional 958 shares in the last quarter. Conning Inc. raised its position in shares of Royal Bank Of Canada by 16.2% in the first quarter. Conning Inc. now owns 6,290 shares of the financial services provider’s stock valued at $459,000 after buying an additional 875 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in shares of Royal Bank Of Canada by 69.6% in the first quarter. Hennessy Advisors Inc. now owns 73,100 shares of the financial services provider’s stock valued at $5,330,000 after buying an additional 30,000 shares in the last quarter. Hedge funds and other institutional investors own 45.67% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be issued a $0.6439 dividend. The ex-dividend date of this dividend is Monday, July 24th. This represents a $2.58 annualized dividend and a dividend yield of 3.51%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 49.36%.
Royal Bank Of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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