Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Hold” from Analysts
Royal Bank of Canada (TSE:RY) has received an average rating of “Hold” from the thirteen research firms that are currently covering the company. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$84.23.
Several equities analysts recently weighed in on the company. CIBC lifted their price target on Royal Bank of Canada from C$84.00 to C$87.00 in a research note on Friday, September 2nd. Scotiabank boosted their price objective on Royal Bank of Canada from C$85.00 to C$86.00 and gave the stock an “outperform” rating in a research note on Thursday, August 25th. Barclays PLC boosted their price objective on Royal Bank of Canada from C$72.00 to C$74.00 and gave the stock an “underweight” rating in a research note on Thursday, August 25th. TD Securities boosted their price objective on Royal Bank of Canada from C$81.00 to C$86.00 and gave the stock a “hold” rating in a research note on Thursday, August 25th. Finally, Desjardins reiterated a “buy” rating and set a C$86.00 price objective on shares of Royal Bank of Canada in a research note on Thursday, August 25th.
In related news, insider Janice Rose Fukakusa sold 62,960 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of C$81.08, for a total value of C$5,104,796.80.
Shares of Royal Bank of Canada (TSE:RY) traded down 0.59% during midday trading on Monday, hitting $80.78. The company had a trading volume of 669,446 shares. Royal Bank of Canada has a 12 month low of $64.52 and a 12 month high of $83.00. The company has a market capitalization of $119.86 billion and a PE ratio of 11.77. The company has a 50-day moving average of $81.08 and a 200-day moving average of $78.49.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be given a $0.83 dividend. The ex-dividend date is Monday, October 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.09%.
Royal Bank of Canada Company Profile
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.
Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.