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

6 Wall Street research 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 research 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.

6 brokers have issued 1-year price targets for Royal Bank of Canada's shares. 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 36.0% 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 stock has decreased by 4.7% and is now trading at $89.57.
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Royal Bank of Canada saw a decrease in short interest during the month of August. As of August 31st, there was short interest totaling 8,830,000 shares, a decrease of 49.6% from the August 15th total of 17,530,000 shares. Based on an average daily trading volume, of 868,700 shares, the days-to-cover ratio is currently 10.2 days. Approximately 0.6% of the shares of the 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, November 29th 2023.
View our RY earnings forecast.

Royal Bank of Canada (NYSE:RY) posted its earnings results on Thursday, August, 24th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.99 by $0.14. The financial services provider had revenue of $10.86 billion for the quarter, compared to analysts' expectations 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%.

Royal Bank of Canada announced a quarterly dividend on Thursday, August 24th. Investors 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 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Wednesday, October 25th. This is a positive change from the stock's previous quarterly dividend of $1.00.
Read our dividend analysis for RY.

Royal Bank of Canada (NYSE:RY) pays an annual dividend of $4.08 per share and currently has a dividend yield of 4.47%. 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 52.92%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, RY will have a dividend payout ratio of 46.63% 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 number of retail and institutional investors. Top institutional shareholders include TD Asset Management Inc (1.92%), Mackenzie Financial Corp (1.90%), Bank of Nova Scotia (1.69%), National Bank of Canada FI (1.35%), 1832 Asset Management L.P. (1.28%) and CIBC Asset Management Inc (0.88%).

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 $89.57.

Royal Bank of Canada (NYSE:RY) has a market capitalization of $125.61 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 $7.71 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.