National Bank Financial Research Analysts Lower Earnings Estimates for Royal Bank of Canada (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Analysts at National Bank Financial cut their Q2 2018 earnings per share (EPS) estimates for Royal Bank of Canada in a research note issued on Wednesday. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $1.99 per share for the quarter, down from their previous forecast of $2.00. National Bank Financial currently has a “Sector Perform” rating and a $99.00 target price on the stock.

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A number of other brokerages also recently issued reports on RY. Eight Capital boosted their price objective on Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. BMO Capital Markets reissued a “market perform” rating and issued a C$100.00 price objective on shares of Royal Bank of Canada in a research note on Thursday, August 24th. Barclays PLC boosted their price objective on Royal Bank of Canada from C$94.20 to C$96.00 in a research note on Friday, August 25th. Finally, Scotiabank downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$102.00 to C$100.00 in a research note on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of C$99.75.

Royal Bank of Canada (RY) opened at 92.84 on Monday. The stock has a market cap of $135.36 billion and a PE ratio of 12.68. Royal Bank of Canada has a 52 week low of $79.75 and a 52 week high of $99.90. The company has a 50-day moving average price of $93.80 and a 200-day moving average price of $95.01.

In related news, insider Jennifer Anne Tory sold 364 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total transaction of C$33,407.92. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total value of C$2,783,700.00. Over the last ninety days, insiders have sold 46,116 shares of company stock worth $4,280,680.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be paid a dividend of $0.91 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 dividend on an annualized basis and a yield of 3.92%.

About Royal Bank of Canada

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.

Earnings History and Estimates for Royal Bank of Canada (TSE:RY)

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