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

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last year. There are currently 1 sell rating, 3 hold ratings and 1 buy rating 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.

5 brokerages have issued twelve-month price objectives for Royal Bank of Canada's shares. Their RY share price forecasts range from $118.00 to $147.00. On average, they predict the company's stock price to reach $139.17 in the next year. This suggests a possible upside of 50.7% from the stock's current price.
View analysts price targets for RY or view top-rated stocks among Wall Street analysts.

Royal Bank of Canada's stock was trading at $94.02 at the beginning of the year. Since then, RY shares have decreased by 1.8% and is now trading at $92.34.
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Royal Bank of Canada saw a decline in short interest during the month of May. As of May 15th, there was short interest totaling 12,800,000 shares, a decline of 48.3% from the April 30th total of 24,740,000 shares. Based on an average daily volume of 875,600 shares, the days-to-cover ratio is currently 14.6 days. Currently, 0.9% of the company's stock are short sold.
View Royal Bank of Canada's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 23rd 2023.
View our RY earnings forecast.

Royal Bank of Canada (NYSE:RY) released its quarterly earnings data on Thursday, May, 25th. The financial services provider reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.07 by $0.12. The financial services provider earned $9.97 billion during the quarter, compared to analyst estimates of $9.53 billion. Royal Bank of Canada had a net margin of 15.27% and a trailing twelve-month return on equity of 15.36%.

Royal Bank of Canada announced a quarterly dividend on Thursday, May 25th. Investors of record on Wednesday, July 26th will be given a dividend of $0.996 per share on Thursday, August 24th. This represents a $3.98 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Tuesday, July 25th. This is an increase from the stock's previous quarterly dividend of $0.99.
Read our dividend analysis for RY.

iShares GSCI Commodity Dynamic Roll Strategy ETF holds 10,000,000 shares of RY stock, representing 1.31% of its portfolio.

Royal Bank of Canada (NYSE:RY) pays an annual dividend of $3.91 per share and currently has a dividend yield of 4.24%. 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 51.38%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RY will have a dividend payout ratio of 44.58% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for RY.

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).

Royal Bank of Canada trades on the New York Stock Exchange (NYSE) under the ticker symbol "RY."

Royal Bank of Canada's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Mackenzie Financial Corp (1.92%), FIL Ltd (1.62%), Toronto Dominion Bank (1.52%), National Bank of Canada FI (1.31%), 1832 Asset Management L.P. (1.30%) and FMR LLC (1.13%).

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.
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One share of RY stock can currently be purchased for approximately $92.34.

Royal Bank of Canada (NYSE:RY) has a market capitalization of $128.42 billion and generates $52.08 billion in revenue each year. The financial services provider earns $12.27 billion in net income (profit) each year or $7.61 on an earnings per share basis.

The company employs 91,427 workers across the globe.

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.