Royal Bank of Canada (TSE:RY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Royal Bank of Canada has a “Moderate Buy” consensus rating from 12 analysts, with eight buy ratings and four holds. The average 12-month price target is C$292.86.
• Several brokerages recently raised their price targets, including Keefe, Bruyette & Woods to C$324, Desjardins to C$320, and Raymond James to C$306.
• RBC reported quarterly earnings of C$4.28 per share on C$18.54 billion in revenue and declared a quarterly dividend of C$1.76, equivalent to a 2.5% annualized yield.

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have received an average recommendation of "Moderate Buy" from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$292.86.

A number of brokerages have weighed in on RY. Raymond James Financial upped their target price on Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 12th. Desjardins set a C$320.00 price target on Royal Bank of Canada and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Scotiabank boosted their price objective on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a "sector outperform" rating in a report on Tuesday, June 16th. Keefe, Bruyette & Woods boosted their price objective on Royal Bank of Canada from C$316.00 to C$324.00 in a report on Monday, August 31st. Finally, Scotia upped their price objective on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 28th.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$279.19 on Wednesday. The firm has a fifty day moving average price of C$287.89 and a two-hundred day moving average price of C$271.45. The company has a market cap of C$386.52 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 3.42 and a beta of 0.97. Royal Bank of Canada has a one year low of C$200.82 and a one year high of C$306.38.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. The firm had revenue of C$18.54 billion for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be issued a $1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.5%. Royal Bank of Canada's dividend payout ratio is presently 41.49%.

Insider Buying and Selling at Royal Bank of Canada

In other news, insider Kelly Bradley sold 5,142 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of C$283.07, for a total transaction of C$1,455,545.94. Following the sale, the insider owned 1,043 shares in the company, valued at approximately C$295,242.01. This trade represents a 83.14% decrease in their position. Also, insider Maria Elena Douvas sold 9,604 shares of Royal Bank of Canada stock in a transaction on Thursday, October 1st. The stock was sold at an average price of C$275.20, for a total transaction of C$2,643,020.80. In the last 90 days, insiders have sold 104,579 shares of company stock worth $29,698,322.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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