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

Key Points

• Royal Bank of Canada has a consensus analyst rating of "Moderate Buy", with 9 buy ratings, 1 strong buy, and 2 holds across 12 brokerages. The average 12-month price target is C$247.62.
• The stock recently traded near its 52-week high, opening at C$248.79 versus a 12-month high of C$249.16. It also has a market cap of about C$345.95 billion and trades at a P/E ratio of 17.09.
• The bank reported quarterly EPS of C$4.08 on revenue of C$17.96 billion and announced a quarterly dividend of C$1.64 per share, equal to an annualized yield of 2.6%.

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have been given an average recommendation of "Moderate Buy" by the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$247.62.

Several equities analysts have weighed in on the company. TD Securities dropped their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Scotiabank upped their price objective on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a "sector outperform" rating in a research report on Monday, May 4th. Raymond James Financial increased their price objective on Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a "buy" rating in a research note on Friday, February 27th. National Bank Financial lifted their price objective on Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. Finally, Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th.

Royal Bank of Canada Price Performance

RY stock opened at C$248.79 on Friday. The company's 50 day simple moving average is C$231.62 and its 200-day simple moving average is C$226.52. The firm has a market capitalization of C$345.95 billion, a PE ratio of 17.09, a P/E/G ratio of 3.42 and a beta of 1.14. Royal Bank of Canada has a 12 month low of C$166.90 and a 12 month high of C$249.16.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The business had revenue of C$17.96 billion during the quarter. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada's payout ratio is currently 42.58%.

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Bruce Washington Ross sold 3,657 shares of the company's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$887,992.74. Following the transaction, the insider owned 235 shares of the company's stock, valued at approximately C$57,062.70. This represents a 93.96% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$112,182.84. Following the sale, the insider owned 290 shares in the company, valued at approximately C$70,417.80. This trade represents a 61.44% decrease in their position. In the last ninety days, insiders have sold 29,110 shares of company stock valued at $7,068,490.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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