What is Cormark’s Forecast for TSE:RY Q4 Earnings?

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at Cormark issued their Q4 2024 earnings per share (EPS) estimates for Royal Bank of Canada in a note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the financial services provider will post earnings of $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

A number of other equities analysts have also recently commented on the company. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Desjardins increased their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Bank of America raised their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a research report on Tuesday, November 19th. Finally, National Bankshares raised their target price on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$175.92.

Royal Bank of Canada Price Performance

Shares of RY opened at C$175.77 on Wednesday. The firm has a 50 day simple moving average of C$170.42 and a two-hundred day simple moving average of C$157.50. The company has a market cap of C$247.84 billion, a P/E ratio of 15.57, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$115.57 and a one year high of C$175.77.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The company 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 net margin of 28.67% and a return on equity of 13.68%.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the transaction, the insider now owns 25 shares in the company, valued at C$4,115. The trade was a 99.75 % decrease in their position. Insiders have sold a total of 144,770 shares of company stock valued at $23,959,265 over the last ninety days.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.23%. Royal Bank of Canada’s dividend payout ratio (DPR) is 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.