Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$137.65.

Several analysts recently issued reports on the stock. Scotiabank boosted their price objective on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$140.00 to C$150.00 in a research report on Friday, April 5th. CIBC decreased their price objective on shares of Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. Finally, Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a report on Thursday, February 29th.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$134.14 on Friday. The company has a market capitalization of C$189.14 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The firm’s 50-day moving average is C$134.66 and its two-hundred day moving average is C$128.36. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$140.77.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The business had revenue of C$13.49 billion during the quarter, compared to the consensus estimate of C$13.65 billion. Sell-side analysts forecast that Royal Bank of Canada will post 11.305 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.25%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.