Brokers Set Expectations for TSE:RY Q4 Earnings

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Cormark issued their Q4 2024 earnings estimates for Royal Bank of Canada in a research note issued on Monday, November 25th. Cormark analyst L. Persaud expects that the financial services provider will earn $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%.

Several other brokerages also recently issued reports on RY. CIBC upped their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday. Bank of America increased their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Desjardins increased their price target on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. Finally, Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of C$175.92.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$174.66 on Wednesday. The company has a market capitalization of C$246.27 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84. The company’s 50 day simple moving average is C$170.24 and its 200 day simple moving average is C$157.25. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.59.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Activity

In related news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In the last 90 days, insiders have sold 144,770 shares of company stock valued at $23,959,265.

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.