Royal Bank of Canada (RY) to Release Quarterly Earnings on Wednesday

Royal Bank of Canada (TSE:RY) (NYSE:RY) is set to issue its quarterly earnings data before the market opens on Wednesday, December 4th. Analysts expect the company to announce earnings of C$2.99 per share for the quarter.

Royal Bank of Canada Stock Down 0.2 %

Shares of RY opened at C$175.80 on Tuesday. Royal Bank of Canada has a twelve month low of C$122.25 and a twelve month high of C$176.81. The stock has a market cap of C$247.88 billion, a PE ratio of 15.57, a P/E/G ratio of 3.42 and a beta of 0.84. The business’s 50-day moving average price is C$170.78 and its 200-day moving average price is C$157.99.

Royal Bank of Canada Dividend Announcement

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 $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were 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 the company’s 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 transaction, the insider now directly owns 25 shares in the company, valued at approximately C$4,198.75. The trade was a 99.85 % decrease in their ownership of the stock. Over the last ninety days, insiders sold 144,770 shares of company stock worth $23,959,265.

Analyst Ratings Changes

Several brokerages have recently commented on RY. Bank of America upped their price objective on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. BMO Capital Markets increased their target price on Royal Bank of Canada from C$165.00 to C$195.00 in a research report on Monday, November 18th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. CIBC increased their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$175.92.

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.