Royal Bank of Canada (RY) Scheduled to Post Earnings on Thursday

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) will be releasing its earnings data before the market opens on Thursday, May 25th. Analysts expect Royal Bank of Canada to post earnings of $2.12 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) last posted its quarterly earnings data on Wednesday, March 1st. The financial services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.09. Royal Bank of Canada had a return on equity of 16.17% and a net margin of 18.77%. The business had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $9.67 billion. On average, analysts expect Royal Bank of Canada to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Royal Bank of Canada Stock Up 0.5 %

RY stock opened at $95.67 on Thursday. The stock’s fifty day simple moving average is $96.65 and its two-hundred day simple moving average is $97.94. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $83.63 and a 1-year high of $106.43. The stock has a market cap of $133.04 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.68 and a beta of 0.82.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, April 25th will be given a $0.992 dividend. The ex-dividend date is Monday, April 24th. This represents a $3.97 annualized dividend and a yield of 4.15%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.98. Royal Bank of Canada’s payout ratio is currently 48.57%.

Institutional Investors Weigh In On Royal Bank of Canada

A number of large investors have recently made changes to their positions in RY. Laurel Wealth Advisors Inc. boosted its position in shares of Royal Bank of Canada by 6.3% during the first quarter. Laurel Wealth Advisors Inc. now owns 2,284 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 135 shares in the last quarter. Cresset Asset Management LLC bought a new stake in shares of Royal Bank of Canada during the first quarter valued at approximately $247,000. Engineers Gate Manager LP bought a new stake in shares of Royal Bank of Canada during the first quarter valued at approximately $246,000. DRW Securities LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $245,000. Finally, Algert Global LLC bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $233,000. 41.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RY shares. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Barclays lowered Royal Bank of Canada from an “overweight” rating to an “underweight” rating in a research note on Tuesday, May 9th. CIBC lowered Royal Bank of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday. Finally, Desjardins upped their target price on Royal Bank of Canada from C$145.00 to C$147.00 in a research note on Tuesday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $138.33.

Royal Bank of Canada Company Profile

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Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.