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

Key Points

• The Royal Bank of Canada (NYSE:RY) received a consensus rating of "Moderate Buy" from eight research firms, with an average price target of $193.00.
• The bank recently reported quarterly earnings of $2.20 per share, missing estimates, and had a revenue of $11.38 billion, which was significantly below the consensus estimate of $15.77 billion.
• Royal Bank of Canada announced a quarterly dividend increase to $1.1152 per share, reflecting a 3.2% dividend yield and an annualized payout of $4.46.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have been given an average rating of "Moderate Buy" by the eight research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $193.00.

A number of equities analysts have recently issued reports on RY shares. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank started coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $137.8750 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $193.74 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The firm's fifty day simple moving average is $131.87 and its two-hundred day simple moving average is $123.37. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $138.34.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The company had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.Royal Bank Of Canada's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $2.92 EPS. As a group, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Thursday, July 24th were issued a $1.1152 dividend. The ex-dividend date was Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 50.33%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors and hedge funds have recently made changes to their positions in RY. Brighton Jones LLC raised its holdings in shares of Royal Bank Of Canada by 33.1% in the 4th 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. Guggenheim Capital LLC increased its position in shares of Royal Bank Of Canada by 26.7% during the fourth quarter. Guggenheim Capital LLC now owns 2,687 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 566 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Royal Bank Of Canada by 544.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,196 shares of the financial services provider's stock valued at $265,000 after acquiring an additional 1,855 shares during the last quarter. Stifel Financial Corp lifted its holdings in Royal Bank Of Canada by 6.2% during the fourth quarter. Stifel Financial Corp now owns 28,393 shares of the financial services provider's stock worth $3,422,000 after acquiring an additional 1,650 shares during the period. Finally, Pinebridge Investments L.P. bought a new stake in Royal Bank Of Canada during the fourth quarter worth $183,000. Institutional investors and hedge funds own 45.31% of the company's stock.

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.

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