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

Shares of Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY have earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $193.00.

RY has been the topic of several research reports. National Bank Financial downgraded shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. CIBC reiterated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Wall Street Zen downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Scotiabank assumed coverage on shares of Royal Bank of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank of Canada in a research note on Monday.

Institutional Investors Weigh In On Royal Bank of Canada

Large investors have recently modified their holdings of the business. Park Square Financial Group LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter worth about $25,000. WealthTrak Capital Management LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada in the fourth quarter valued at about $29,000. Sunbelt Securities Inc. raised its holdings in Royal Bank of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 250 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Royal Bank of Canada during the 1st quarter worth approximately $32,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Down 0.3%

Shares of RY traded down $0.35 during trading hours on Wednesday, hitting $127.96. 666,750 shares of the company were exchanged, compared to its average volume of 1,137,029. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $129.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm's 50 day moving average is $120.68 and its 200-day moving average is $119.85. The company has a market cap of $180.49 billion, a PE ratio of 15.49, a PEG ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same period in the prior year, the business posted $2.92 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Royal Bank of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. This represents a $4.46 annualized dividend and a dividend yield of 3.49%. Royal Bank of Canada's payout ratio is 49.78%.

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.