Royal Bank of Canada - RY Stock Forecast, Price & News

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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RY shares. Credit Suisse Group decreased their price objective on Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27th. Argus lifted their price objective on Royal Bank of Canada from $121.00 to $125.00 and gave the company a "buy" rating in a report on Monday, June 6th. National Bank Financial boosted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Friday, May 27th. Keefe, Bruyette & Woods downgraded shares of Royal Bank of Canada from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from C$132.00 to C$118.00 in a report on Monday, August 8th. Finally, Scotiabank reduced their target price on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $142.13.

Royal Bank of Canada Stock Performance

NYSE:RY traded up $0.92 during trading hours on Friday, reaching $100.26. The stock had a trading volume of 593,133 shares, compared to its average volume of 884,103. The stock has a fifty day moving average of $97.45 and a 200 day moving average of $104.15. The stock has a market cap of $139.82 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Royal Bank of Canada has a 52-week low of $90.75 and a 52-week high of $119.41. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88.

Royal Bank of Canada (NYSE:RY - Get Rating) (TSE:RY) last issued its earnings results on Thursday, May 26th. The financial services provider reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.28. The firm had revenue of $8.86 billion for the quarter. Royal Bank of Canada had a return on equity of 17.97% and a net margin of 28.54%. Sell-side analysts predict that Royal Bank of Canada will post 8.84 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Tuesday, July 26th will be given a $0.995 dividend. The ex-dividend date of this dividend is Monday, July 25th. This represents a $3.98 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $0.94. Royal Bank of Canada's dividend payout ratio is currently 43.54%.