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

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average rating of “Buy” by the twelve research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$175.92.

RY has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Cormark boosted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. National Bankshares boosted their price target on Royal Bank of Canada from C$169.00 to C$181.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group lowered their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th.

Royal Bank of Canada Stock Up 0.2 %

Royal Bank of Canada stock opened at C$176.16 on Friday. The business has a 50-day simple moving average of C$170.78 and a two-hundred day simple moving average of C$157.99. The company has a market cap of C$248.39 billion, a P/E ratio of 15.60, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$120.28 and a 52-week high of C$176.27.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, August 28th. 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. The business had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.31%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the stock in a transaction dated 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. Insiders sold 144,770 shares of company stock worth $23,959,265 in the last three months.

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.