Royal Bank Of Canada (NYSE:RY) Announces Quarterly Earnings Results

Key Points

• Royal Bank of Canada reported quarterly EPS of $3.07, beating the consensus estimate of $2.89 by $0.18. The bank posted a 15.92% net margin and 17.68% return on equity.
• RBC shares opened at $207.52, near their 12-month high of $218.57, with a market capitalization of approximately $287.75 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $225.00; institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY announced its earnings results on Thursday. The financial services provider reported $3.07 EPS for the quarter, topping the consensus estimate of $2.89 by $0.18, Zacks reports. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%.

Royal Bank Of Canada Price Performance

NYSE RY opened at $207.52 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $141.37 and a 12-month high of $218.57. The company has a market capitalization of $287.75 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80. The firm's 50 day moving average is $208.92 and its 200-day moving average is $187.56.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada during the 3rd quarter worth about $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider's stock valued at $50,000 after acquiring an additional 180 shares in the last quarter. Swiss RE Ltd. bought a new position in shares of Royal Bank Of Canada in the 4th quarter valued at about $58,000. Strive Financial Group LLC acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at about $61,000. Finally, Triumph Capital Management acquired a new stake in shares of Royal Bank Of Canada in the third quarter valued at about $78,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on RY shares. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, July 29th. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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