Analysts Set Royal Bank of Canada (NYSE:RY) Target Price at $142.50

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have received a consensus recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $142.50.

A number of equities analysts recently issued reports on RY shares. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada during the third quarter valued at $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of Royal Bank of Canada during the second quarter valued at approximately $27,000. Finally, Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the third quarter worth $28,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of RY opened at $124.30 on Friday. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. The firm’s 50-day simple moving average is $123.41 and its two-hundred day simple moving average is $114.89. The stock has a market cap of $175.72 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Analysts anticipate that Royal Bank of Canada will post 8.37 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were given a dividend of $1.028 per share. The ex-dividend date was Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.31%. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.79%.

About Royal Bank of Canada

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.