Royal Bank Of Canada (RY) Shares Gap Down to $62.28
Shares of Royal Bank Of Canada (NYSE:RY) gapped down prior to trading on Monday . The stock had previously closed at $62.03, but opened at $62.28. Royal Bank Of Canada shares last traded at $62.77, with a volume of 993,100 shares.
RY has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research note on Friday, May 20th. Desjardins reiterated a “buy” rating and issued a $86.00 price objective on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Bank of America Corp. reiterated an “underperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, July 12th. TD Securities restated a “hold” rating and set a $86.00 price target (up previously from $81.00) on shares of Royal Bank Of Canada in a research report on Friday, August 26th. Finally, Argus started coverage on shares of 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 analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Royal Bank Of Canada has an average rating of “Hold” and an average price target of $83.10.
The company has a market cap of $93.14 billion and a price-to-earnings ratio of 11.82. The stock’s 50 day moving average is $61.68 and its 200 day moving average is $59.16.
Royal Bank Of Canada (NYSE:RY) last released its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.33 by $0.39. During the same quarter last year, the company earned $1.66 EPS. The business earned $10.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Equities research analysts forecast that Royal Bank Of Canada will post $5.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be given a $0.6449 dividend. The ex-dividend date is Monday, October 24th. This represents a $2.58 annualized dividend and a yield of 4.11%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.62.
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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