Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$145.71

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$145.71.

Several brokerages recently issued reports on RY. Jefferies Financial Group lifted their target price on Royal Bank of Canada from C$159.00 to C$168.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Argus raised Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Desjardins lifted their target price on Royal Bank of Canada from C$142.00 to C$156.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, National Bankshares lifted their target price on Royal Bank of Canada from C$154.00 to C$161.00 and gave the company an “outperform” rating in a research report on Friday, May 31st.

Royal Bank of Canada Stock Up 1.0 %

TSE RY opened at C$150.86 on Thursday. The company has a market cap of C$212.71 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$150.90. The business has a 50 day moving average price of C$144.46 and a 200-day moving average price of C$137.51.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 EPS for the quarter, beating the consensus estimate of C$2.77 by C$0.15. The firm had revenue of C$14.15 billion during the quarter, compared to the consensus estimate of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. On average, equities research analysts anticipate that Royal Bank of Canada will post 11.1525292 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 25th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 3.77%. Royal Bank of Canada’s payout ratio is presently 51.54%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total value of C$1,721,604.71. Following the sale, the insider now owns 235 shares in the company, valued at C$33,243.81. Insiders have sold a total of 101,302 shares of company stock worth $14,592,565 over the last ninety days.

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.