Royal Bank of Canada (TSE:RY) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Technical breakout: Royal Bank of Canada shares traded as high as C$238.50 and moved above the 200-day moving average (C$221.67), last at C$237.86 on volume of about 2.95 million shares.
• Analyst sentiment: Several firms have raised price targets recently and the consensus rating is a "Moderate Buy" with an average target of C$244.58.
• Dividend and fundamentals: RBC announced a quarterly dividend of C$1.64 (annualized C$6.56, yield 2.8%, ex-dividend Apr 23, payable May 22) and reported quarterly EPS of C$4.08 with ROE of 15.37% and a market cap of about C$331.3 billion.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$221.67 and traded as high as C$238.50. Royal Bank of Canada shares last traded at C$237.86, with a volume of 2,946,512 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. Desjardins lifted their price objective on Royal Bank of Canada from C$247.00 to C$250.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. National Bank Financial lifted 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. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a "neutral" rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of "Moderate Buy" and an average price target of C$244.58.

Royal Bank of Canada Price Performance

The firm has a 50 day moving average of C$228.44 and a two-hundred day moving average of C$221.67. The stock has a market cap of C$331.31 billion, a PE ratio of 16.34, a PEG ratio of 3.42 and a beta of 1.07.

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

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 22nd will be paid a dividend of $1.64 per share. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.8%. Royal Bank of Canada's payout ratio is presently 42.58%.

About Royal Bank of Canada

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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