Royal Bank of Canada (NYSE:RY) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY issued its quarterly earnings results on Thursday. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05), Zacks reports. The company had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.92 earnings per share.

Royal Bank of Canada Stock Down 0.2%

NYSE RY traded down $0.26 during trading on Tuesday, hitting $127.61. The company's stock had a trading volume of 382,139 shares, compared to its average volume of 1,130,914. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $180.49 billion, a PE ratio of 15.45, a P/E/G ratio of 1.80 and a beta of 0.89. The business's 50 day simple moving average is $119.03 and its 200-day simple moving average is $119.66. Royal Bank of Canada has a fifty-two week low of $102.44 and a fifty-two week high of $129.46.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This represents a $4.46 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. Royal Bank of Canada's dividend payout ratio (DPR) is currently 46.18%.

Institutional Investors Weigh In On Royal Bank of Canada

An institutional investor recently raised its position in Royal Bank of Canada stock. Brighton Jones LLC boosted its stake in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 33.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the financial services provider's stock after acquiring an additional 575 shares during the quarter. Brighton Jones LLC's holdings in Royal Bank of Canada were worth $279,000 at the end of the most recent reporting period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RY. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Wall Street Zen lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday. National Bank Financial lowered Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday. CIBC restated an "outperform" rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. Finally, Scotiabank began coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.50.

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.