Royal Bank of Canada (TSE:RY) Receives C$163.38 Average Target Price from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average rating of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$163.38.

Several analysts recently commented on the stock. Desjardins upped their price target on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays raised their price target on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Bank of America lifted their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Finally, Cormark boosted their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th.

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction that occurred 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 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 transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,125. This trade represents a 0.00 % decrease in their position. In the last quarter, insiders sold 144,770 shares of company stock valued at $23,959,265.

Royal Bank of Canada Price Performance

TSE:RY opened at C$172.04 on Wednesday. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.04. The firm has a market capitalization of C$242.58 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The business’s fifty day moving average price is C$168.27 and its 200 day moving average price is C$154.10.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The business had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. As a group, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be issued a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.30%. Royal Bank of Canada’s dividend payout ratio (DPR) is 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.