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

Key Points

• Royal Bank of Canada has a consensus analyst rating of "Moderate Buy" from 14 research firms, with 10 buy ratings and 4 hold ratings. The average 1-year price target is $225.00.
• The stock recently traded up 1.7% to $217.77, near its 52-week high of $217.87. RBC also reported quarterly earnings of $2.84 per share, beating estimates, and revenue rose 11.4% year over year.
• The company increased its quarterly dividend to $1.76 per share from $1.64, implying an annualized dividend of $7.04 and a yield of about 3.2%. The payout ratio is currently 44.47%.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has been given a consensus rating of "Moderate Buy" by the fourteen research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $225.00.

Several research firms have recently weighed in on RY. Raymond James Financial cut Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, June 29th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th.

Hedge Funds Weigh In On Royal Bank Of Canada

Several hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after purchasing an additional 575 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock worth $1,321,000 after purchasing an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock worth $695,000 after purchasing an additional 1,934 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock valued at $1,783,000 after buying an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock valued at $6,279,000 after buying an additional 3,928 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Trading Up 1.7%

NYSE RY opened at $217.77 on Thursday. The firm has a market cap of $302.65 billion, a P/E ratio of 19.57, a P/E/G ratio of 1.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock's 50-day moving average is $196.75 and its 200-day moving average is $178.88. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $217.87.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company had revenue of $12.84 billion during the quarter, compared to analysts' expectations of $12.74 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.2%. Royal Bank Of Canada's payout ratio is presently 44.47%.

About Royal Bank Of Canada

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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