Royal Bank Of Canada (NYSE:RY) Announces Quarterly Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) issued its quarterly earnings results on Thursday. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03, Zacks reports. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.

Royal Bank Of Canada Trading Down 0.5%

RY opened at $188.98 on Thursday. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $191.51. The company has a market cap of $264.13 billion, a P/E ratio of 18.08, a PEG ratio of 1.49 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day simple moving average is $174.22 and its 200-day simple moving average is $168.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. increased its holdings in shares of Royal Bank Of Canada by 33.8% in the 4th quarter. Sunbelt Securities Inc. now owns 756 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 191 shares during the last quarter. Compound Planning Inc. grew its position in shares of Royal Bank Of Canada by 8.3% in the 4th quarter. Compound Planning Inc. now owns 21,469 shares of the financial services provider’s stock valued at $3,660,000 after buying an additional 1,652 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $567,000. Corient Private Wealth LLC grew its position in shares of Royal Bank Of Canada by 5.2% in the 4th quarter. Corient Private Wealth LLC now owns 35,216 shares of the financial services provider’s stock valued at $6,005,000 after buying an additional 1,754 shares during the last quarter. Finally, Strive Financial Group LLC purchased a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Weiss Ratings lowered Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.