Royal Bank of Canada (NYSE:RY) Issues Earnings Results, Misses Expectations By $0.05 EPS

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

Royal Bank of Canada Price Performance

RY stock traded up $1.66 during trading on Friday, hitting $126.66. The company had a trading volume of 1,359,802 shares, compared to its average volume of 1,134,117. The company has a fifty day moving average price of $118.80 and a two-hundred day moving average price of $119.63. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market cap of $179.15 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.80 and a beta of 0.89. 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a $1.1152 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.52%. Royal Bank of Canada's payout ratio is currently 46.18%.

Wall Street Analyst Weigh In

RY has been the subject of several recent analyst reports. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Wall Street Zen lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Saturday. CIBC restated an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. National Bank Financial downgraded Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday. Finally, Scotiabank assumed coverage on Royal Bank of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.50.

Institutional Trading of Royal Bank of Canada

An institutional investor recently raised its position in Royal Bank of Canada stock. Brighton Jones LLC lifted its position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 33.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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. Institutional investors own 45.31% of the company's stock.

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.