Desjardins Equities Analysts Lift Earnings Estimates for RY

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Investment analysts at Desjardins upped their Q4 2024 EPS estimates for Royal Bank of Canada in a research report issued to clients and investors on Friday, November 1st. Desjardins analyst D. Young now anticipates that the financial services provider will earn $2.11 per share for the quarter, up from their previous estimate of $2.09. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $8.91 per share.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%.

RY has been the topic of a number of other research reports. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Trading Up 0.7 %

Shares of Royal Bank of Canada stock opened at $123.16 on Monday. 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 business has a fifty day simple moving average of $122.95 and a two-hundred day simple moving average of $112.53. Royal Bank of Canada has a 1 year low of $83.57 and a 1 year high of $126.96. The company has a market capitalization of $174.11 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.86 and a beta of 0.86.

Institutional Trading of Royal Bank of Canada

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada during the 2nd quarter worth approximately $27,000. Grove Bank & Trust acquired a new position in Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Royal Bank of Canada in the second quarter worth $33,000. Institutional investors own 45.31% of the company’s stock.

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. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. Royal Bank of Canada’s payout ratio is 50.79%.

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.