Cormark Raises Earnings Estimates for Royal Bank of Canada

Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY - Equities researchers at Cormark boosted their FY2025 earnings estimates for Royal Bank of Canada in a report released on Tuesday, May 20th. Cormark analyst L. Persaud now expects that the financial services provider will earn $9.48 per share for the year, up from their prior forecast of $9.25. The consensus estimate for Royal Bank of Canada's current full-year earnings is $9.16 per share. Cormark also issued estimates for Royal Bank of Canada's FY2026 earnings at $10.30 EPS.

A number of other equities research analysts have also issued reports on RY. CIBC reissued an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday. Wall Street Zen raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Scotiabank initiated coverage on shares of Royal Bank of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded up $1.69 during trading hours on Thursday, reaching $128.21. 1,355,532 shares of the company's stock were exchanged, compared to its average volume of 1,127,749. Royal Bank of Canada has a 1 year low of $102.44 and a 1 year high of $128.73. The company has a market capitalization of $181.33 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The business has a fifty day moving average of $117.54 and a two-hundred day moving average of $119.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Park Square Financial Group LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth about $25,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth about $28,000. Sunbelt Securities Inc. lifted its position in shares of Royal Bank of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Bank of Canada during the first quarter worth about $32,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th were paid a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 46.18%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.