What is Cormark’s Forecast for TSE:RY Q4 Earnings?

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Analysts at Cormark issued their Q4 2024 earnings per share estimates for shares of Royal Bank of Canada in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the financial services provider will post earnings per share of $3.02 for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

A number of other equities research analysts also recently commented on RY. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Desjardins lifted their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a research report on Tuesday, November 19th. Finally, CIBC upped their price target on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$175.92.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$175.80 on Wednesday. Royal Bank of Canada has a fifty-two week low of C$117.33 and a fifty-two week high of C$176.27. The company has a market capitalization of C$247.88 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock has a fifty day moving average of C$170.60 and a two-hundred day moving average of C$157.75.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 17,000 shares of Royal Bank of Canada stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the sale, the insider now owns 25 shares in the company, valued at C$4,198.75. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In the last 90 days, insiders have sold 144,770 shares of company stock worth $23,959,265.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were issued a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.23%. Royal Bank of Canada’s payout ratio is 50.31%.

About Royal Bank of Canada

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.