Royal Bank of Canada (RY) Price Target Raised to C$107.00 at National Bank Financial
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by National Bank Financial from C$105.00 to C$107.00 in a report released on Friday. They currently have a sector perform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q2 2018 earnings at $2.03 EPS and Q3 2018 earnings at $2.10 EPS.
Several other analysts have also issued reports on the company. Eight Capital raised Royal Bank of Canada from a neutral rating to a buy rating and boosted their price target for the company from C$107.00 to C$113.00 in a report on Monday, December 11th. Citigroup boosted their price target on Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. CIBC boosted their price target on Royal Bank of Canada from C$103.00 to C$113.00 in a report on Monday, November 13th. Canaccord Genuity boosted their price target on Royal Bank of Canada from C$100.00 to C$105.00 in a report on Wednesday, November 1st. Finally, CSFB boosted their price target on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an outperform rating in a report on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Royal Bank of Canada presently has an average rating of Hold and a consensus target price of C$107.58.
Shares of Royal Bank of Canada (TSE:RY) opened at C$105.26 on Friday. Royal Bank of Canada has a fifty-two week low of C$90.13 and a fifty-two week high of C$106.06. The company has a market capitalization of $153,730.00, a price-to-earnings ratio of 13.92 and a beta of 0.72.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.52% and a net margin of 28.00%.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.03%.
In related news, insider Jennifer Anne Tory sold 344 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of C$101.55, for a total value of C$34,933.20. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$101.73, for a total value of C$753,107.19. In the last ninety days, insiders sold 18,795 shares of company stock valued at $1,907,804.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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.