Royal Bank of Canada (TSE:RY) Receives C$134.10 Average PT from Analysts

Shares of Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$134.03.

A number of brokerages have weighed in on RY. National Bankshares cut their price target on shares of Royal Bank of Canada from C$142.00 to C$136.00 and set an “outperform” rating for the company in a report on Friday, May 26th. Bank of America reduced their target price on shares of Royal Bank of Canada from C$141.00 to C$130.00 in a report on Friday, May 26th. Scotiabank dropped their price target on Royal Bank of Canada from C$143.00 to C$141.00 and set an “outperform” rating on the stock in a report on Monday, August 21st. CIBC reduced their price objective on Royal Bank of Canada from C$139.00 to C$129.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Finally, Canaccord Genuity Group lifted their target price on Royal Bank of Canada from C$128.50 to C$135.00 and gave the stock a “hold” rating in a report on Monday, July 24th.

Read Our Latest Research Report on RY

Insider Buying and Selling

In other news, Director David Ian Mckay sold 4,131 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of C$132.02, for a total value of C$545,374.62.

Royal Bank of Canada Stock Up 1.2 %

Shares of Royal Bank of Canada stock opened at C$123.46 on Friday. The business has a fifty day simple moving average of C$125.51 and a 200-day simple moving average of C$127.81. Royal Bank of Canada has a fifty-two week low of C$116.75 and a fifty-two week high of C$140.18. The firm has a market cap of C$172.84 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 6.86 and a beta of 0.78.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.37%. The ex-dividend date is Wednesday, October 25th. Royal Bank of Canada’s payout ratio is 52.22%.

Royal Bank of Canada Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with's FREE daily email newsletter.