Royal Bank of Canada (TSE:RY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• The Royal Bank of Canada (TSE:RY) has received a consensus rating of "Moderate Buy" from analysts, with five hold ratings, five buy ratings, and one strong buy rating.
• The average twelve-month price target for the stock is C$206.62, with significant target price increases reported from various analysts.
• Royal Bank of Canada announced a quarterly dividend of $1.54, which translates to an annualized yield of 3.0% and a payout ratio of 44.78%.

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have been given a consensus rating of "Moderate Buy" by the eleven analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$206.62.

A number of equities analysts recently commented on RY shares. TD Securities raised their target price on Royal Bank of Canada from C$191.00 to C$208.00 and gave the stock a "hold" rating in a report on Thursday, August 28th. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$198.00 to C$207.00 in a research note on Wednesday, August 13th. Desjardins increased their price target on Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. Bank of America increased their price target on Royal Bank of Canada from C$214.00 to C$227.00 in a research note on Thursday, August 28th. Finally, Cibc World Mkts lowered Royal Bank of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at C$205.44 on Wednesday. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$206.99. The stock's fifty day moving average is C$199.91 and its 200 day moving average is C$182.41. The stock has a market cap of C$289.73 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.42 and a beta of 1.24.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 24th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, October 27th. Royal Bank of Canada's dividend payout ratio is presently 44.78%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.

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