Royal Bank Of Canada (RY) Given Average Recommendation of “Hold” by Brokerages
Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $85.40.
A number of analysts have issued reports on RY shares. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Wednesday, July 19th. BidaskClub upgraded shares of Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, May 18th. Finally, Canaccord Genuity started coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They set a “hold” rating on the stock.
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Shares of Royal Bank Of Canada (RY) remained flat at $72.89 during midday trading on Friday. 754,161 shares of the company’s stock traded hands. The company has a market cap of $106.19 billion, a PE ratio of 12.45 and a beta of 1.07. Royal Bank Of Canada has a 12 month low of $60.50 and a 12 month high of $76.01. The company has a 50-day moving average of $74.01 and a 200 day moving average of $72.01.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.08. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $6.88 billion. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. During the same period in the previous year, the firm earned $1.66 EPS. On average, equities analysts predict that Royal Bank Of Canada will post $5.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be issued a $0.6439 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Monday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 49.36%.
A number of institutional investors have recently made changes to their positions in the stock. Welch Group LLC purchased a new stake in Royal Bank Of Canada during the first quarter valued at $101,000. Quadrant Capital Group LLC increased its stake in Royal Bank Of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock valued at $108,000 after buying an additional 188 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Royal Bank Of Canada during the first quarter valued at $123,000. Proficio Capital Partners LLC increased its stake in Royal Bank Of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,167 shares during the last quarter. Finally, Jolley Asset Management LLC increased its stake in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after buying an additional 25 shares during the last quarter. 45.67% of the stock is owned by hedge funds and other institutional investors.
About Royal Bank Of Canada
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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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