Royal Bank Of Canada (NYSE:RY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $162.00.

RY has been the subject of several research analyst reports. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday.

Institutional Trading of Royal Bank Of Canada

A number of large investors have recently modified their holdings of RY. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada during the 4th quarter valued at about $26,000. Key Financial Inc grew its stake in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. Finally, Maseco LLP grew its stake in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $181.70 on Friday. 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 company has a market capitalization of $253.96 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.34 and a beta of 0.80. The company’s 50 day simple moving average is $168.53 and its 200 day simple moving average is $163.96. Royal Bank Of Canada has a 1 year low of $119.59 and a 1 year high of $182.15.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.62 earnings per share. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.57 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.17%.

Royal Bank Of Canada Company Profile

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.