Equities Analysts Offer Predictions for Royal Bank of Canada’s Q4 2024 Earnings (TSE:RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Desjardins upped their Q4 2024 earnings per share (EPS) estimates for Royal Bank of Canada in a note issued to investors on Wednesday, August 28th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $2.82 for the quarter, up from their previous forecast of $2.81. Desjardins has a “Buy” rating and a $163.00 price target on the stock. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.86 per share.

Other equities analysts also recently issued research reports about the company. UBS Group set a C$165.00 price objective on Royal Bank of Canada and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Barclays boosted their price objective on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Cormark lifted their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday. BMO Capital Markets upped their price target on Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, CIBC raised their price objective on Royal Bank of Canada from C$155.00 to C$166.00 in a research report on Thursday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$161.50.

Royal Bank of Canada Trading Up 1.4 %

Shares of TSE:RY opened at C$162.98 on Monday. The stock’s 50-day moving average price is C$151.42 and its 200-day moving average price is C$142.71. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$163.06. The stock has a market capitalization of C$231.43 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. The company had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Bruce Washington Ross sold 12,170 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the transaction, the insider now owns 235 shares in the company, valued at C$33,243.81. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the sale, the insider now directly owns 235 shares of the company’s stock, valued at C$33,243.81. Insiders sold 101,302 shares of company stock worth $14,592,565 over the last three months.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.31%.

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.