Royal Bank of Canada (NYSE:RY) (TSE:RY) – Equities research analysts at Desjardins upped their FY2019 earnings per share estimates for Royal Bank of Canada in a research note issued on Tuesday, February 5th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $6.86 for the year, up from their previous forecast of $6.75. Desjardins currently has a “Buy” rating on the stock. Desjardins also issued estimates for Royal Bank of Canada’s FY2020 earnings at $7.28 EPS.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, November 28th. The financial services provider reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. Royal Bank of Canada had a return on equity of 18.09% and a net margin of 21.60%. The business had revenue of $10.67 billion during the quarter, compared to analysts’ expectations of $11.14 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis.

Other equities research analysts have also recently issued reports about the company. TD Securities raised Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, December 10th. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Macquarie raised Royal Bank of Canada from a “neutral” rating to an “outperform” rating in a research note on Wednesday, December 12th. Scotiabank reaffirmed an “average” rating and issued a $115.00 price objective on shares of Royal Bank of Canada in a research note on Sunday, December 2nd. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Royal Bank of Canada presently has an average rating of “Buy” and an average target price of $96.67.

Shares of NYSE RY opened at $76.06 on Friday. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $81.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $109.69 billion, a PE ratio of 11.65, a PEG ratio of 2.15 and a beta of 1.11.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. lifted its holdings in Royal Bank of Canada by 3.5% during the 4th quarter. CAPROCK Group Inc. now owns 4,396 shares of the financial services provider’s stock worth $301,000 after buying an additional 148 shares during the last quarter. Capital Investment Counsel Inc lifted its holdings in Royal Bank of Canada by 6.5% during the 4th quarter. Capital Investment Counsel Inc now owns 3,293 shares of the financial services provider’s stock worth $226,000 after buying an additional 200 shares during the last quarter. Huntington National Bank lifted its holdings in Royal Bank of Canada by 14.5% during the 4th quarter. Huntington National Bank now owns 1,660 shares of the financial services provider’s stock worth $114,000 after buying an additional 210 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Royal Bank of Canada by 0.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 31,457 shares of the financial services provider’s stock worth $2,155,000 after buying an additional 267 shares during the last quarter. Finally, Investment Management of Virginia LLC lifted its holdings in Royal Bank of Canada by 2.1% during the 4th quarter. Investment Management of Virginia LLC now owns 14,037 shares of the financial services provider’s stock worth $962,000 after buying an additional 294 shares during the last quarter. 40.79% of the stock is owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Investors of record on Thursday, January 24th will be paid a dividend of $0.745 per share. The ex-dividend date is Wednesday, January 23rd. This represents a $2.98 annualized dividend and a yield of 3.92%. Royal Bank of Canada’s payout ratio is 43.95%.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)

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