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

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given a consensus rating of “Buy” by the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$163.38.

A number of research analysts have issued reports on RY shares. National Bankshares raised their price target on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a report on Thursday, August 29th. CIBC lifted their price target on Royal Bank of Canada from C$166.00 to C$167.00 in a research report on Friday, September 6th. TD Securities increased their price objective on Royal Bank of Canada from C$171.00 to C$178.00 in a report on Thursday, August 29th. Jefferies Financial Group decreased their target price on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Desjardins upped their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th.

Insider Buying and Selling

In other news, Senior Officer Bruce Washington Ross sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now directly owns 235 shares in the company, valued at approximately C$33,133.12. In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$167.91, for a total transaction of C$1,679,100.00. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,197.75. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of Royal Bank of Canada stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the completion of the sale, the insider now owns 235 shares in the company, valued at C$33,133.12. Over the last three months, insiders have sold 140,122 shares of company stock valued at $22,646,929.

Royal Bank of Canada Price Performance

The company’s 50-day simple moving average is C$154.87 and its 200-day simple moving average is C$144.91. Royal Bank of Canada has a 1 year low of C$107.92 and a 1 year high of C$169.04. The firm has a market cap of C$236.29 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 10.64 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%.

Royal Bank of Canada Announces Dividend

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

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.