FY2024 Earnings Forecast for TSE:RY Issued By Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at Desjardins lifted their FY2024 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a report issued on Friday, November 1st. Desjardins analyst D. Young now forecasts that the financial services provider will earn $11.96 per share for the year, up from their prior forecast of $11.85. Desjardins has a “Buy” rating and a $163.00 price objective on the stock. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share. Desjardins also issued estimates for Royal Bank of Canada’s Q4 2024 earnings at $2.93 EPS and FY2025 earnings at $12.45 EPS.

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

A number of other analysts have also commented on RY. Cormark lifted their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. TD Securities lifted their price target on Royal Bank of Canada from C$171.00 to C$178.00 in a research report on Thursday, August 29th. Bank of America lifted their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Barclays lifted their price target on Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, CIBC boosted their target price on Royal Bank of Canada from C$166.00 to C$167.00 in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of C$163.38.

Royal Bank of Canada Stock Up 0.2 %

Shares of TSE:RY opened at C$170.42 on Monday. The stock has a market cap of C$240.29 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$115.28 and a 12-month high of C$175.04. The business’s 50 day moving average is C$167.32 and its 200 day moving average is C$153.30.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.33%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 74,852 shares of the business’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 other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,125. This trade represents a 0.00 % decrease in their position. Insiders sold 144,770 shares of company stock worth $23,959,265 over the last 90 days.

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.