Royal Bank of Canada (RY) Receives C$111.00 Average Price Target from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$111.00.

RY has been the topic of a number of research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a C$106.00 price target on shares of Royal Bank of Canada in a research note on Monday, February 26th. Scotiabank dropped their price target on Royal Bank of Canada from C$112.00 to C$110.00 and set a “sector perform” rating on the stock in a research note on Friday, May 25th. National Bank Financial upped their price target on Royal Bank of Canada from C$107.00 to C$109.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Canaccord Genuity upped their price target on Royal Bank of Canada from C$107.00 to C$109.00 in a research note on Monday, February 26th. Finally, Eight Capital upped their price target on Royal Bank of Canada from C$118.00 to C$119.00 in a research note on Friday, May 25th.

Shares of Royal Bank of Canada traded up C$0.41, hitting C$100.26, on Thursday, MarketBeat reports. 6,911,800 shares of the company’s stock traded hands, compared to its average volume of 2,325,860. Royal Bank of Canada has a one year low of C$90.13 and a one year high of C$108.52.



Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, May 24th. The financial services provider reported C$2.10 EPS for the quarter, beating the consensus estimate of C$2.07 by C$0.03. Royal Bank of Canada had a return on equity of 16.49% and a net margin of 26.17%. The company had revenue of C$10.05 billion for the quarter, compared to analyst estimates of C$10.06 billion.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Investors of record on Thursday, July 26th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Wednesday, July 25th.

In other news, insider Helena Gottschling sold 1,080 shares of the stock in a transaction that occurred on Friday, April 20th. The stock was sold at an average price of C$97.08, for a total value of C$104,846.40. Also, insider Alex Douglas Mcgregor sold 15,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of C$99.25, for a total value of C$1,488,750.00. Over the last ninety days, insiders have purchased 1,060 shares of company stock worth $84,446 and have sold 53,078 shares worth $5,348,870.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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