Royal Bank of Canada (TSE:RY) Receives C$146.86 Average Price Target from Analysts

Shares of Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$146.86.

Several equities research analysts have commented on RY shares. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. TD Securities decreased their target price on shares of Royal Bank of Canada from C$150.00 to C$145.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. Fundamental Research restated a “buy” rating and set a C$142.00 target price on shares of Royal Bank of Canada in a research report on Wednesday, June 8th. CIBC decreased their price objective on shares of Royal Bank of Canada from C$149.00 to C$146.00 in a research report on Tuesday, May 17th. Finally, National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$147.00 to C$148.00 and gave the stock an “outperform” rating in a research report on Friday, May 27th.

In related news, Senior Officer Helena Gottschling sold 404 shares of Royal Bank of Canada stock in a transaction on Friday, April 22nd. The shares were sold at an average price of C$135.38, for a total transaction of C$54,692.51. Following the transaction, the insider now owns 1,373 shares in the company, valued at approximately C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock in a transaction on Monday, March 21st. The shares were sold at an average price of C$142.44, for a total transaction of C$580,711.16. Following the transaction, the director now owns 5,873 shares in the company, valued at approximately C$836,526.04. Insiders sold 12,635 shares of company stock valued at $1,704,690 in the last three months.

Shares of RY opened at C$124.53 on Wednesday. The stock has a market capitalization of C$174.60 billion and a P/E ratio of 10.89. The company’s fifty day moving average is C$130.68 and its two-hundred day moving average is C$136.15. Royal Bank of Canada has a 1 year low of C$123.30 and a 1 year high of C$149.60.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 26th. The financial services provider reported C$2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.67 by C$0.32. The firm had revenue of C$11.22 billion during the quarter. On average, sell-side analysts anticipate that Royal Bank of Canada will post 11.9999989 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a yield of 4.11%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, July 25th. Royal Bank of Canada’s payout ratio is 39.86%.

Royal Bank of Canada Company Profile (Get Rating)

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.

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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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