Royal Bank of Canada (TSE:RY) (NYSE:RY) - Cormark raised their FY2017 earnings per share (EPS) estimates for Royal Bank of Canada in a report issued on Thursday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $7.62 per share for the year, up from their previous estimate of $7.53. Cormark also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.97 EPS, Q1 2018 earnings at $2.00 EPS, Q2 2018 earnings at $1.98 EPS, Q3 2018 earnings at $2.07 EPS, Q4 2018 earnings at $2.05 EPS and FY2018 earnings at $8.10 EPS.
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Other equities research analysts have also recently issued reports about the stock. National Bank Financial decreased their price target on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a report on Thursday. BMO Capital Markets restated a “market perform” rating and set a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday. Eight Capital upped their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday. Scotiabank cut shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$102.00 to C$100.00 in a report on Monday, August 21st. Finally, Barclays PLC upped their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of C$99.75.
Royal Bank of Canada (RY) opened at 93.25 on Friday. The stock has a 50 day moving average price of $93.80 and a 200-day moving average price of $95.01. The stock has a market cap of $135.95 billion and a P/E ratio of 12.74. Royal Bank of Canada has a 12-month low of $79.75 and a 12-month high of $99.90.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.90%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.87.
In related news, insider Jennifer Anne Tory sold 360 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of C$93.63, for a total value of C$33,706.80. Also, Director David Ian Mckay sold 5,352 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$91.78, for a total transaction of C$491,206.56. In the last quarter, insiders sold 46,116 shares of company stock valued at $4,280,680.
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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