Brokerages Set Royal Bank of Canada (NYSE:RY) PT at $142.50

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have been assigned an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $142.50.

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mount Yale Investment Advisors LLC lifted its holdings in shares of Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Royal Bank of Canada by 1.6% during the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after buying an additional 95 shares during the period. Shell Asset Management Co. grew its stake in shares of Royal Bank of Canada by 3.8% during the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after buying an additional 100 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Royal Bank of Canada by 1.9% during the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after buying an additional 100 shares during the last quarter. Finally, Leisure Capital Management raised its holdings in shares of Royal Bank of Canada by 1.1% in the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider’s stock worth $1,168,000 after buying an additional 100 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Up 0.7 %

Royal Bank of Canada stock opened at $121.79 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day moving average price is $122.68 and its 200-day moving average price is $112.07. Royal Bank of Canada has a 1 year low of $80.96 and a 1 year high of $126.96. The stock has a market cap of $172.17 billion, a P/E ratio of 14.73, a PEG ratio of 1.98 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. On average, equities analysts predict that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is currently 50.67%.

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.