NYSE:RY

Royal Bank of Canada (RY) Stock Forecast, Price & News

$87.44

-0.58 (-0.66%)

(As of 09/29/2023 ET)

Compare

Today's Range: $87.34
▼
$88.78
50-Day Range: $86.85
▼
$100.29
52-Week Range: $83.63
▼
$104.72

Volume: 2.18 million shs
Average Volume: 745,294 shs
Market Capitalization: $122.62 billion

P/E Ratio: 11.34
Dividend Yield: 4.67%
Price Target: $121.80

Royal Bank of Canada MarketRank™ Forecast

Analyst Rating: Hold
2.17 Rating Score
Upside/Downside: 39.3% Upside
$121.80 Price Target
Short Interest: Bearish
0.78% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: -0.43
Upright™ Environmental Score
News Sentiment: 0.18
Based on 12 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 5.29%
From $8.31 to $8.75 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.35 out of 5 stars

Finance Sector

490th out of 884 stocks

Commercial Banks, Not Elsewhere Classified Industry

20th out of 29 stocks

3.1

Analyst's Opinion

Consensus Rating
Royal Bank of Canada has received a consensus rating of Hold. The company's average rating score is 2.17, and is based on 2 buy ratings, 3 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $121.80, Royal Bank of Canada has a forecasted upside of 39.3% from its current price of $87.44.
Amount of Analyst Coverage
Royal Bank of Canada has only been the subject of 2 research reports in the past 90 days.

1.0

Short Interest

Percentage of Shares Shorted
0.78% of the float of Royal Bank of Canada has been sold short.
Short Interest Ratio / Days to Cover
Royal Bank of Canada has a short interest ratio ("days to cover") of 12, which indicates bearish sentiment.
Change versus previous month
Short interest in Royal Bank of Canada has recently increased by 22.76%, indicating that investor sentiment is decreasing significantly.

3.3

Dividend Strength

Dividend Leadership
Royal Bank of Canada is a leading dividend payer. It pays a dividend yield of 4.66%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Royal Bank of Canada has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Royal Bank of Canada is 52.92%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Royal Bank of Canada will have a dividend payout ratio of 46.63% next year. This indicates that Royal Bank of Canada will be able to sustain or increase its dividend.

3.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Royal Bank of Canada has received a 27.11% net impact score from Upright. Royal Bank of Canada seems to create the most significant positive value in categories "Taxes", "Societal infrastructure", and "Jobs". The positive contribution in the "Societal infrastructure" impact category is mostly driven by its "Pension funding services", "Mortgages", "Commercial deposit accounts", and "Consumer deposit accounts" products. See details.
Environmental Sustainability
The Environmental Impact score for Royal Bank of Canada is -0.43.

2.3

News and Social Media Coverage

News Sentiment
Royal Bank of Canada has a news sentiment score of 0.18. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.70 average news sentiment score of Finance companies.
News Coverage This Week
MarketBeat has tracked 12 news articles for Royal Bank of Canada this week, compared to 8 articles on an average week.
Search Interest
Only 19 people have searched for RY on MarketBeat in the last 30 days. This is a decrease of -51% compared to the previous 30 days.
MarketBeat Follows
11 people have added Royal Bank of Canada to their MarketBeat watchlist in the last 30 days. This is an increase of 450% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Royal Bank of Canada insiders have not sold or bought any company stock.
Percentage Held by Institutions
42.02% of the stock of Royal Bank of Canada is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Royal Bank of Canada are expected to grow by 5.29% in the coming year, from $8.31 to $8.75 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Royal Bank of Canada is 11.34, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 105.12.
Price to Earnings Ratio vs. Sector
The P/E ratio of Royal Bank of Canada is 11.34, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 63.75.
Price to Earnings Growth Ratio
Royal Bank of Canada has a PEG Ratio of 1.75. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Royal Bank of Canada has a P/B Ratio of 1.56. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Royal Bank of Canada (NYSE:RY) Stock

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses. This segment offers financial products and services through branches, automated teller machines, and mobile sales network. Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company's Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and business insurance services to individual, business, and group clients through its advice centers, RBC insurance stores, and mobile advisors; digital, mobile, and social platforms; independent brokers; and travel partners. Its Investor & Treasury Services segment provides asset servicing, custody, payments, and treasury services to financial and other investors; and fund and investment administration, shareholder, private capital, performance measurement and compliance monitoring, distribution, transaction banking, cash and liquidity management, foreign exchange, and global securities finance services. The company's Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, advisory services, sale, and trading services for corporations, institutional investors, asset managers, private equity firms, and governments. The company was founded in 1864 and is headquartered in Toronto, Canada.

RY Price History

30 days | 90 days | 365 days | Advanced Chart

RY Stock News Headlines

September 29, 2023 | finance.yahoo.com

UPDATE 2-RBC pumps capital into Californian bank unit City National

September 29, 2023 | seekingalpha.com

RBC's City National records loss on intercompany sale of debt

October 1, 2023 | Behind the Markets (Ad)

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September 29, 2023 | finance.yahoo.com

Royal Bank of Canada comments on recent intercompany transactions

September 28, 2023 | americanbankingnews.com

Royal Bank of Canada (NYSE:RY) Downgraded by StockNews.com

September 26, 2023 | finance.yahoo.com

Triple Five Group Refinances Edmonton Megamall Debt With Bond

September 26, 2023 | finance.yahoo.com

Aware but unprepared: Canadians know fraud is on the rise, but don't know what to do if their data is compromised

September 25, 2023 | finance.yahoo.com

More Canadians seeking entrepreneurship as a path to career autonomy & financial security: RBC Poll

October 1, 2023 | Behind the Markets (Ad)

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September 25, 2023 | americanbankingnews.com

Analysts Set Royal Bank of Canada (NYSE:RY) PT at $121.80

September 23, 2023 | seekingalpha.com

Royal Bank Of Canada: The Fourth Buy For The Dividend Income Accelerator Portfolio

September 22, 2023 | msn.com

RBC initiates layoffs in capital markets division amid challenging economic climate

September 22, 2023 | americanbankingnews.com

Royal Bank of Canada (NYSE:RY) Rating Increased to Hold at StockNews.com

September 20, 2023 | finance.yahoo.com

RBC Moves With Job Cuts on US, Canada Capital Markets Desks

September 20, 2023 | finance.yahoo.com

Financial flexibility disappearing for Canadians as rising costs continue to hammer savings - RBC poll

September 13, 2023 | msn.com

Royal Bank of Canada – A Retiree’s Dream Stock

September 12, 2023 | seekingalpha.com

Royal Bank of Canada (RY) Management Presents at Barclays 21st Annual Global Financial Services Conference (Transcript)

September 12, 2023 | msn.com

Hollywood A-Listers Call on TIFF CEO to End Royal Bank of Canada Sponsorship, Citing Environmental Concerns

September 12, 2023 | prnewswire.com

Sterling Medical Devices and RBC Medical Innovations Rebrand as Vantage MedTech

September 6, 2023 | seekingalpha.com

Royal Bank of Canada (RY) Scotiabank 24th Annual Financials Summit (Transcript)

September 6, 2023 | financialpost.com

Sluggish Canadian Banks Face Stock Sales to Meet Capital Rules

September 5, 2023 | benzinga.com

Credit Card Companies Sector Shakeup: Analyst Cautions On Near-Term Risks, Yet Sees Long-Term Stability

September 1, 2023 | finance.yahoo.com

UPDATE 3-RBC's $10 bln deal for HSBC unit approved by Canada's Competition Bureau

September 1, 2023 | finance.yahoo.com

RBC's $10 billion deal for HSBC unit approved by Canada's Competition Bureau

September 1, 2023 | benzinga.com

What To Expect From Logistics Business Solution Provider Descartes Q2 Earning Next Week?

September 1, 2023 | financialpost.com

Competition Bureau approves RBC’s proposed takeover of HSBC Canada

August 31, 2023 | msn.com

CBDCs To Usher In A Cashless Future, Overthrowing Traditional Banking: Royal Bank of Canada

See More Headlines

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RY Company Calendar

Ex-Dividend for 8/24 Dividend: 7/25/2023
Last Earnings: 8/24/2023
Dividend Payable: 8/24/2023
Today: 10/01/2023
Ex-Dividend for 11/24 Dividend: 10/25/2023
Fiscal Year End: 10/31/2023
Dividend Payable: 11/24/2023
Next Earnings (Estimated): 11/29/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Commercial banks, not elsewhere classified
Sub-Industry: N/A
Sector: Finance
Current Symbol: NYSE:RY
CUSIP: N/A
CIK: 1000275
Web: www.rbc.com
Phone: (888) 212-5533
Fax: 416-955-7800
Employees: 91,427
Year Founded: 1896

Price Target and Rating

Average Stock Price Forecast: $121.80
High Stock Price Forecast: $148.00
Low Stock Price Forecast: $79.00
Forecasted Upside/Downside: +39.3%
Consensus Rating: Hold
Rating Score (0-4): 2.17
Research Coverage: 6 Analysts

Profitability

EPS (Most Recent Fiscal Year): $7.71
Trailing P/E Ratio: 11.34
Forward P/E Ratio: 10.52
P/E Growth: 1.77
Net Income: $12.27 billion
Net Margins: 13.51%
Pretax Margin: 17.79%
Return on Equity: 15.43%
Return on Assets: 0.82%

Debt

Debt-to-Equity Ratio: 0.11
Current Ratio: 0.90
Quick Ratio: 0.90

Sales & Book Value

Annual Sales: $55.55 billion
Price / Sales: 2.21
Cash Flow: $10.38 per share
Price / Cash Flow: 8.42
Book Value: $56.16 per share
Price / Book: 1.56

Miscellaneous

Outstanding Shares: 1,402,329,000
Free Float: N/A
Market Cap: $122.62 billion
Optionable: Optionable
Beta: 0.84

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Key Executives

Mr. David I. McKay (Age 60)
Pres, CEO & Director
Comp: $3.35M

Ms. Nadine Ahn (Age 52)
Chief Financial Officer
Comp: $1.14M

Mr. Neil McLaughlin
Group Head of Personal & Commercial Banking

Mr. Douglas Antony Guzman
Group Head of Wealth Management, Insurance, Investor & Treasury Services

Mr. Derek Neldner CFA
Group Head & CEO of RBC Capital Markets

Mr. Bruce Ross
Group Head of Technology & Operations

Mr. Christoph Knoess
Chief Admin. & Strategy Officer

Mr. Asim Imran
VP & Head of Investor Relations

Ms. Maria Douvas
Chief Legal Officer

Ms. Amy Cairncross
Sr. VP of Communications

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

RY Stock - Frequently Asked Questions

Should I buy or sell Royal Bank of Canada stock right now?: 6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" RY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in RY, but not buy additional shares or sell existing shares.
View RY analyst ratings or view top-rated stocks.
What is Royal Bank of Canada's stock price forecast for 2023?: 6 brokers have issued 1 year price targets for Royal Bank of Canada's stock. Their RY share price forecasts range from $79.00 to $148.00. On average, they predict the company's stock price to reach $121.80 in the next year. This suggests a possible upside of 39.3% from the stock's current price.
View analysts price targets for RY or view top-rated stocks among Wall Street analysts.
How have RY shares performed in 2023?: Royal Bank of Canada's stock was trading at $94.02 at the start of the year. Since then, RY stock has decreased by 7.0% and is now trading at $87.44.
View the best growth stocks for 2023 here.
Are investors shorting Royal Bank of Canada?: Royal Bank of Canada saw a increase in short interest during the month of September. As of September 15th, there was short interest totaling 10,840,000 shares, an increase of 22.8% from the August 31st total of 8,830,000 shares. Based on an average daily trading volume, of 900,200 shares, the days-to-cover ratio is presently 12.0 days. Approximately 0.8% of the shares of the company are sold short.
View Royal Bank of Canada's Short Interest.
When is Royal Bank of Canada's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023.
View our RY earnings forecast.
How were Royal Bank of Canada's earnings last quarter?: Royal Bank of Canada (NYSE:RY) posted its quarterly earnings data on Thursday, August, 24th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.99 by $0.14. The financial services provider earned $10.86 billion during the quarter, compared to analyst estimates of $9.54 billion. Royal Bank of Canada had a net margin of 13.51% and a trailing twelve-month return on equity of 15.43%.
How often does Royal Bank of Canada pay dividends? What is the dividend yield for Royal Bank of Canada?: Royal Bank of Canada declared a quarterly dividend on Thursday, August 24th. Stockholders of record on Thursday, October 26th will be paid a dividend of $1.019 per share on Friday, November 24th. This represents a $4.08 annualized dividend and a yield of 4.66%. The ex-dividend date is Wednesday, October 25th. This is an increase from the stock's previous quarterly dividend of $1.00.
Read our dividend analysis for RY.
Is Royal Bank of Canada a good dividend stock?: Royal Bank of Canada (NYSE:RY) pays an annual dividend of $3.99 per share and currently has a dividend yield of 4.64%. RY has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 51.75%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RY will have a dividend payout ratio of 45.60% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for RY.

What other stocks do shareholders of Royal Bank of Canada own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Royal Bank of Canada investors own include Toronto-Dominion Bank (TD), AbbVie (ABBV), AT&T (T), Johnson & Johnson (JNJ), Cisco Systems (CSCO), Bank of America (BAC), Bank of Nova Scotia (BNS), Pfizer (PFE), JPMorgan Chase & Co. (JPM) and Walt Disney (DIS).
What is Royal Bank of Canada's stock symbol?: Royal Bank of Canada trades on the New York Stock Exchange (NYSE) under the ticker symbol "RY."
How do I buy shares of Royal Bank of Canada?: Shares of RY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Royal Bank of Canada's stock price today?: One share of RY stock can currently be purchased for approximately $87.44.
How much money does Royal Bank of Canada make?: Royal Bank of Canada (NYSE:RY) has a market capitalization of $122.62 billion and generates $55.55 billion in revenue each year. The financial services provider earns $12.27 billion in net income (profit) each year or $7.71 on an earnings per share basis.
How many employees does Royal Bank of Canada have?: The company employs 91,427 workers across the globe.
Does Royal Bank of Canada have any subsidiaries?: The following companies are subsidiares of Royal Bank of Canada: Abacus Financial Services Group Limited, Admiralty Bancorp Inc., Alabama National BanCorporation, American Guaranty & Trust, BlueBay Asset Management, Brewin Dolphin, Business Men’s Assurance Company, Capital Funding Alberta Limited, Centura Banks Inc., City National Bank, City National Corporation, Credit Suisse Private Banking North America, Dain Rauscher, Daniels & Associates L.P., Eagle Bancshares Inc., Ferris Baker Watts Incorporated, Flag Financial Corporation, Investment Holdings (Cayman) Limited, J.B. Hanauer & Co., Liberty Insurance Services Corporation, Liberty Life Insurance Company, Mourant Private Wealth, Phillips Hager & North Investment Management Ltd., Prism Financial, Provident Financial Group Inc., R.B.C. Holdings (Bahamas) Limited, RBC (Barbados) Funding Ltd., RBC (Barbados) Trading Bank Corporation, RBC Capital Markets LLC, RBC Caribbean Investments Limited, RBC Direct Investing Inc., RBC Dominion Securities Inc., RBC Dominion Securities Limited, RBC Europe Limited, RBC Global Asset Management Inc., RBC Insurance Holdings Inc, RBC Investor Services Bank S.A., RBC Investor Services Trust, RBC Life Insurance Company, RBC U.S. Group Holdings LLC, RBC USA Holdco Corporation, RBTT Financial Group, Richardson Barr & Co., Richardson Greenshields, Royal Bank Holding Inc., Royal Bank Mortgage Corporation, Royal Bank of Canada Insurance Company Ltd., Royal Trust, Royal Trust Corporation of Canada, Seasongood & Mayer LLC, Security First Network Bank, Sterling Capital Mortgage Company, The Royal Trust Company, Tucker Anthony Sutro Corporation, Voyageur Insurance Company, WayPay, Westbury Canadian Life Insurance Company, and William R. Hough & Co. Inc..
Read More
How can I contact Royal Bank of Canada?: Royal Bank of Canada's mailing address is 200 BAY STREET, TORONTO A6, M5J2J5. The official website for the company is www.rbc.com. The financial services provider can be reached via phone at (888) 212-5533, via email at invesrel@rbc.com, or via fax at 416-955-7800.

This page (NYSE:RY) was last updated on 10/1/2023 by MarketBeat.com Staff

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