Royal Bank Of Canada (RY) Shares Gap Up to $61.13
Shares of Royal Bank Of Canada (NYSE:RY) gapped up prior to trading on Wednesday . The stock had previously closed at $61.09, but opened at $61.13. Royal Bank Of Canada shares last traded at $61.46, with a volume of 526,250 shares traded.
Several brokerages have commented on RY. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Saturday, June 4th. Zacks Investment Research raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. TD Securities reaffirmed a “hold” rating and issued a $81.00 price objective (up previously from $79.00) on shares of Royal Bank Of Canada in a research report on Friday, May 27th. Bank of America Corp. reissued an “underperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, July 12th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Royal Bank Of Canada in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $77.00.
The stock has a market capitalization of $91.31 billion and a P/E ratio of 12.04. The company’s 50-day moving average is $60.37 and its 200 day moving average is $57.69.
Royal Bank Of Canada (NYSE:RY) last announced its quarterly earnings data on Thursday, May 26th. The company reported $1.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.02. During the same period last year, the company posted $1.68 earnings per share. The firm had revenue of $9.53 billion for the quarter, compared to analysts’ expectations of $9.51 billion. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that Royal Bank Of Canada will post $5.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Tuesday, July 26th will be given a dividend of $0.6163 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.59. This represents a $2.47 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Friday, July 22nd.
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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