Royal Bank of Canada (TSE:RY) Stock Has Consensus Price Target of C$292.86 According to Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$292.86.

A number of equities analysts recently weighed in on RY shares. Raymond James Financial lifted their target price on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. TD cut their price target on shares of Royal Bank of Canada from C$307.00 to C$306.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$268.00 to C$271.00 in a report on Thursday, September 3rd. Barclays lifted their price objective on Royal Bank of Canada from C$260.00 to C$300.00 in a research report on Friday, August 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on Royal Bank of Canada from C$316.00 to C$324.00 in a research note on Monday, August 31st.

Royal Bank of Canada Stock Performance

TSE:RY opened at C$273.78 on Wednesday. Royal Bank of Canada has a fifty-two week low of C$200.82 and a fifty-two week high of C$306.38. The company has a 50 day simple moving average of C$286.67 and a two-hundred day simple moving average of C$272.20. The company has a market capitalization of C$379.03 billion, a PE ratio of 17.26, a P/E/G ratio of 3.42 and a beta of 0.97.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The firm had revenue of C$18.54 billion for the quarter. Research analysts predict that Royal Bank of Canada will post 12.35 EPS for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 24th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 2.6%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 41.49%.

Insider Buying and Selling

In other Royal Bank of Canada news, insider Kelly Bradley sold 5,142 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of C$283.07, for a total value of C$1,455,545.94. Following the transaction, the insider directly owned 1,043 shares of the company’s stock, valued at approximately C$295,242.01. The trade was a 83.14% decrease in their ownership of the stock. Also, insider Maria Elena Douvas sold 9,604 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of C$275.20, for a total value of C$2,643,020.80. Over the last quarter, insiders sold 104,579 shares of company stock valued at $29,698,322.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.