Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at Cormark boosted their Q1 2018 earnings estimates for shares of Royal Bank of Canada in a note issued to investors on Thursday. Cormark analyst M. Grauman now anticipates that the financial services provider will post earnings of $2.03 per share for the quarter, up from their previous estimate of $2.02. Cormark also issued estimates for Royal Bank of Canada’s Q2 2018 earnings at $2.04 EPS, Q3 2018 earnings at $2.14 EPS, Q4 2018 earnings at $2.12 EPS, FY2018 earnings at $8.33 EPS, Q1 2019 earnings at $2.15 EPS, Q3 2019 earnings at $2.27 EPS, Q4 2019 earnings at $2.26 EPS and FY2019 earnings at $8.83 EPS.
Several other brokerages also recently issued reports on RY. 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, August 25th. Canaccord Genuity upped their price target on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a report on Thursday, November 30th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday, August 24th. Barclays upped their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. Finally, CIBC upped their price target on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a report on Monday, November 13th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of C$104.67.
In related news, Director Thierry Vandal purchased 729 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of C$91.91 per share, with a total value of C$67,002.39. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of C$93.10, for a total transaction of C$931,000.00. Insiders have sold 32,731 shares of company stock worth $3,209,901 in the last three months.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is 47.54%.
Royal Bank of Canada Company Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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