Royal Bank of Canada (TSE:RY) Receives Average Rating of “Buy” from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$181.67.

RY has been the topic of several analyst reports. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank lowered their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Jefferies Financial Group lowered their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Finally, TD Securities reduced their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research report on Friday, February 28th.

Insider Activity

In related news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock. Insiders sold 42,762 shares of company stock valued at $7,379,177 in the last ninety days.

Royal Bank of Canada Trading Down 1.3 %

Royal Bank of Canada stock opened at C$163.16 on Tuesday. The business’s fifty day simple moving average is C$171.41 and its two-hundred day simple moving average is C$170.29. Royal Bank of Canada has a 12 month low of C$131.57 and a 12 month high of C$180.45. The company has a market capitalization of C$230.87 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.63%. Royal Bank of Canada’s payout ratio is 49.49%.

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.