Royal Bank Of Canada (NYSE:RY) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Royal Bank of Canada a consensus rating of “Moderate Buy” from 14 firms (11 buy, 3 hold) with an average 12‑month price target of $162.00.
• RBC topped estimates in its latest quarter with $2.94 EPS vs $2.81 expected and revenue of $13.18B (vs $12.60B), reporting a 17.12% ROE and analysts project about 9.16 EPS for the year.
• The bank announced a quarterly dividend of $1.64 per share (annualized $6.56) for a yield of roughly 4.0%, with record date April 23 and payment May 22.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have earned a consensus recommendation of "Moderate Buy" from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $162.00.

RY has been the topic of several research analyst reports. Zacks Research lowered shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Raymond James Financial reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. TD Securities raised shares of Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Thursday, December 4th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th.

Institutional Investors Weigh In On Royal Bank Of Canada

Institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Royal Bank Of Canada during the 4th quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada in the 4th quarter valued at about $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada during the third quarter worth about $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth about $29,000. Finally, Highline Wealth Partners LLC lifted its position in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider's stock worth $35,000 after purchasing an additional 89 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

RY stock opened at $162.89 on Friday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The stock has a market cap of $227.67 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.24 and a beta of 0.79. The business has a fifty day moving average of $168.95 and a two-hundred day moving average of $157.58.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.62 EPS. As a group, research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio is 45.74%.

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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