Royal Bank of Canada (NYSE:RY) Cut to Sell at StockNews.com

StockNews.com lowered shares of Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) from a hold rating to a sell rating in a report issued on Tuesday.

Separately, Bank of America upgraded shares of Royal Bank of Canada from a neutral rating to a buy rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $131.50.

Get Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Trading Down 0.3 %

Shares of NYSE RY opened at $96.76 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $97.95 and its two-hundred day moving average price is $91.69. The stock has a market capitalization of $136.32 billion, a P/E ratio of 12.42, a PEG ratio of 1.85 and a beta of 0.87. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $104.72.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last announced its quarterly earnings data on Thursday, November 30th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.13. Royal Bank of Canada had a return on equity of 15.21% and a net margin of 12.59%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.63 billion. During the same period last year, the company earned $2.09 earnings per share. On average, analysts anticipate that Royal Bank of Canada will post 8.6 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be paid a dividend of $1.0155 per share. This represents a $4.06 annualized dividend and a yield of 4.20%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s payout ratio is currently 51.09%.

Hedge Funds Weigh In On Royal Bank of Canada

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $26,000. Optiver Holding B.V. acquired a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $34,000. Money Concepts Capital Corp purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $38,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth $44,000. Institutional investors own 42.02% of the company’s stock.

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.

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