Royal Bank of Canada (TSE:RY) Given Consensus Recommendation of “Buy” by Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average recommendation of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$175.92.

Several analysts have commented on the company. Bank of America raised their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. National Bankshares raised their price objective on Royal Bank of Canada from C$169.00 to C$181.00 in a report on Wednesday, November 20th. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. CIBC lifted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Finally, Cormark lifted their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction on Wednesday, September 4th. The stock was 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 17,000 shares of Royal Bank of Canada stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at C$4,198.75. This represents a 99.85 % decrease in their position. Over the last 90 days, insiders have sold 144,770 shares of company stock worth $23,959,265.

Royal Bank of Canada Stock Up 0.2 %

Royal Bank of Canada stock opened at C$176.16 on Friday. Royal Bank of Canada has a 52 week low of C$120.28 and a 52 week high of C$176.27. The business’s 50-day moving average price is C$170.78 and its 200 day moving average price is C$157.99. The firm has a market cap of C$248.39 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

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 EPS for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The company had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a yield of 3.22%. 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.