Royal Bank Of Canada (RY) Reaches New 12-Month High at $63.68
Royal Bank Of Canada (NYSE:RY) reached a new 52-week high on Tuesday . The company traded as high as $63.68 and last traded at $63.41, with a volume of 764,167 shares trading hands. The stock had previously closed at $62.56.
A number of equities research analysts have weighed in on the company. Credit Suisse Group AG restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Saturday, June 4th. Zacks Investment Research upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Citigroup Inc. restated a “buy” rating and set a $88.00 price target (down previously from $89.00) on shares of Royal Bank Of Canada in a research report on Friday, June 3rd. TD Securities restated a “hold” rating and set a $81.00 price target (up previously from $79.00) on shares of Royal Bank Of Canada in a research report on Friday, May 27th. Finally, Argus assumed coverage on Royal Bank Of Canada in a research report on Friday, July 1st. They set a “buy” rating and a $69.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $78.13.
The firm has a market cap of $94.26 billion and a P/E ratio of 12.3719. The stock has a 50 day moving average of $61.01 and a 200-day moving average of $58.47.
Royal Bank Of Canada (NYSE:RY) last issued its earnings results on Thursday, May 26th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm earned $9.53 billion during the quarter, compared to the consensus estimate of $9.51 billion. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 EPS. Equities analysts predict that Royal Bank Of Canada will post $5.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Investors of record on Tuesday, July 26th will be issued a $0.6163 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.59. This represents a $2.47 annualized dividend and a yield of 3.94%. 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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