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

Key Points

• Moderate Buy consensus from 11 analysts (8 buys, 2 holds, 1 strong buy) with an average 12‑month target of C$244.58.
• Shares trade around C$240.71 (near a 12‑month high of C$240.91) with a market cap of C$335.28B and P/E of 16.53; the bank reported C$4.08 EPS and C$17.96B revenue for the most recent quarter.
• The firm declared a quarterly dividend of C$1.64 (C$6.56 annualized) implying a yield of 2.7%, with an ex‑dividend date of April 23 and payment on May 22.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has been given an average recommendation of "Moderate Buy" by the eleven ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$244.58.

A number of research analysts recently weighed in on RY shares. National Bank Financial raised their price objective on Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. BMO Capital Markets raised their price objective on Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. TD Securities cut their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a "buy" rating on the stock in a research note on Friday, February 27th. Barclays lifted their price target on Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. Finally, Scotiabank lifted their price target on Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at C$240.71 on Wednesday. The stock's 50 day simple moving average is C$228.77 and its 200 day simple moving average is C$222.42. Royal Bank of Canada has a twelve month low of C$158.48 and a twelve month high of C$240.91. The company has a market capitalization of C$335.28 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.42 and a beta of 1.07.

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 return on equity of 15.37% and a net margin of 20.88%.The business had revenue of C$17.96 billion for the quarter. On average, analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada's payout ratio is currently 42.58%.

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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