Royal Bank of Canada (TSE:RY) Announces Earnings Results, Beats Expectations By $0.31 EPS

Royal Bank of Canada (TSE:RY) (NYSE:RY) released its quarterly earnings data on Wednesday. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31, reports. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%.

Royal Bank of Canada Stock Performance

TSE:RY opened at C$160.75 on Friday. The stock’s fifty day moving average price is C$150.62 and its two-hundred day moving average price is C$142.27. Royal Bank of Canada has a 52-week low of C$107.92 and a 52-week high of C$162.73. The company has a market cap of C$228.27 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.53%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Analysts Set New Price Targets

A number of analysts recently issued reports on RY shares. 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 report on Monday, August 12th. TD Securities boosted their price target on Royal Bank of Canada from C$171.00 to C$178.00 in a research report on Thursday. BMO Capital Markets lifted their price objective on Royal Bank of Canada from C$151.00 to C$165.00 in a research note on Thursday. Scotiabank dropped their price objective on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Finally, Bank of America lifted their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$161.50.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. Also, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$3,628.83. In the last quarter, insiders have sold 101,302 shares of company stock valued at $14,592,565.

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.