Royal Bank of Canada (TSE:RY) Receives C$137.65 Consensus Price Target from Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$137.65.

RY has been the topic of several research reports. CIBC reduced their price target on shares of Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a research report on Friday, March 8th. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$140.00 to C$150.00 in a research report on Friday, April 5th. Finally, Scotiabank upped their target price on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th.

Royal Bank of Canada Stock Performance

RY opened at C$133.31 on Friday. The firm’s 50-day simple moving average is C$134.58 and its 200-day simple moving average is C$128.19. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$140.77. The firm has a market cap of C$187.97 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share for the quarter, topping the consensus estimate of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The business had revenue of C$13.49 billion for the quarter, compared to analyst estimates of C$13.65 billion. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 11.305 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 annualized dividend and a dividend yield of 4.14%. Royal Bank of Canada’s dividend payout ratio is currently 51.25%.

Royal Bank of Canada Company Profile

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.