Analysts Set Royal Bank Of Canada (NYSE:RY) Target Price at $193.00

Key Points

• The Royal Bank of Canada (NYSE:RY) has received a consensus rating of "Moderate Buy" from seven brokerages, with an average 12-month target price of $193.00.
• Royal Bank of Canada reported earnings of $2.20 per share for the last quarter, missing consensus estimates, while revenue showed a year-over-year increase of 10.7%.
• The bank has increased its quarterly dividend to $1.1152, providing an annualized yield of 3.45% with a payout ratio of 50.33%.

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

RY has been the subject of a number of recent research reports. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. National Bank Financial lowered Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank began coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Finally, Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st.

Institutional Trading of Royal Bank Of Canada

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Royal Bank Of Canada in the 4th quarter worth $214,000. Sei Investments Co. lifted its position in Royal Bank Of Canada by 6.6% during the 4th quarter. Sei Investments Co. now owns 2,007 shares of the financial services provider's stock worth $242,000 after acquiring an additional 124 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Royal Bank Of Canada by 16.7% during the fourth quarter. LPL Financial LLC now owns 137,608 shares of the financial services provider's stock worth $16,583,000 after buying an additional 19,695 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in Royal Bank Of Canada by 9.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 19,458 shares of the financial services provider's stock valued at $2,345,000 after purchasing an additional 1,729 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock traded down $0.98 during trading on Thursday, hitting $128.41. The stock had a trading volume of 902,788 shares, compared to its average volume of 1,215,235. The business has a fifty day moving average of $129.76 and a two-hundred day moving average of $121.80. Royal Bank Of Canada has a fifty-two week low of $102.89 and a fifty-two week high of $134.26. The firm has a market cap of $180.52 billion, a P/E ratio of 14.27, a PEG ratio of 1.48 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

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

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is 50.33%.

About Royal Bank Of Canada

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.