Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) – Research analysts at Cormark lifted their FY2023 earnings per share (EPS) estimates for Royal Bank of Canada in a research note issued on Tuesday, May 23rd. Cormark analyst L. Persaud now expects that the financial services provider will post earnings of $11.69 per share for the year, up from their previous forecast of $11.67. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $11.55 per share. Cormark also issued estimates for Royal Bank of Canada’s FY2024 earnings at $12.41 EPS.
Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last released its earnings results on Wednesday, March 1st. The financial services provider reported C$3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.92 by C$0.13. The business had revenue of C$15.09 billion for the quarter, compared to analyst estimates of C$13.07 billion. Royal Bank of Canada had a return on equity of 14.23% and a net margin of 29.76%.
Royal Bank of Canada Trading Down 1.8 %
TSE:RY opened at C$121.48 on Thursday. The firm has a market cap of C$168.86 billion, a P/E ratio of 11.56, a PEG ratio of 4.62 and a beta of 0.74. The stock’s 50 day simple moving average is C$130.14 and its 200-day simple moving average is C$132.25. Royal Bank of Canada has a 12-month low of C$116.75 and a 12-month high of C$140.18.
Royal Bank of Canada Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Wednesday, July 26th will be given a $1.35 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.32. This represents a $5.40 annualized dividend and a dividend yield of 4.45%. Royal Bank of Canada’s dividend payout ratio is currently 50.24%.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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