Royal Bank Of Canada (NYSE:RY) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Fourteen analysts give Royal Bank of Canada a consensus rating of Moderate Buy (11 buys, 3 holds), with an average 12‑month target price of $162.
• RBC’s most recent quarter beat estimates, reporting EPS of $2.94 vs. $2.81 expected and revenue of $13.18 billion vs. $12.60 billion, though EPS declined from $3.62 year‑over‑year while revenue rose 4.4%.
• RBC announced a quarterly dividend of $1.64 (annualized $6.56) for a 3.7% yield, with an ex‑dividend/record date of April 23 and payment on May 22; the dividend payout ratio is 45.17%.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has been assigned a consensus rating of "Moderate Buy" from the fourteen research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $162.00.

A number of analysts recently weighed in on the stock. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Zacks Research cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th.

Royal Bank Of Canada Stock Down 0.2%

RY stock opened at $179.61 on Friday. The company's 50 day moving average price is $168.19 and its 200 day moving average price is $163.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $119.59 and a fifty-two week high of $180.90. The firm has a market capitalization of $251.04 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.35 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same period in the prior year, the firm earned $3.62 earnings per share. The business's quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Bank Of Canada will post 11.56 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.7%. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.17%.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after acquiring an additional 575 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock worth $1,321,000 after acquiring an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC grew its position in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock worth $695,000 after acquiring an additional 1,934 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock worth $1,783,000 after acquiring an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Royal Bank Of Canada by 9.0% during the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock worth $6,279,000 after acquiring an additional 3,928 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Company Profile

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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