Brokerages Set Royal Bank of Canada (TSE:RY) Target Price at C$137.03

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average rating of “Hold” by the fourteen research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$137.03.

Several equities analysts have weighed in on the company. CIBC cut their target price on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a report on Friday, March 8th. National Bankshares raised their target price on Royal Bank of Canada from C$135.00 to C$148.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Bank of America upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating and raised their price objective for the stock from C$130.00 to C$146.00 in a research note on Monday, December 18th. Finally, BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$132.00 to C$140.00 and gave the stock a “market perform” rating in a research report on Friday, December 1st.

Royal Bank of Canada Stock Up 0.3 %

RY opened at C$136.62 on Tuesday. The stock has a fifty day moving average of C$132.85 and a 200-day moving average of C$125.86. The firm has a market capitalization of C$192.63 billion, a P/E ratio of 12.69, a PEG ratio of 10.64 and a beta of 0.84. Royal Bank of Canada has a 12-month low of C$107.92 and a 12-month high of C$137.21.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.79 by C$0.06. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The business had revenue of C$13.49 billion during the quarter, compared to analyst estimates of C$13.65 billion. On average, analysts expect that Royal Bank of Canada will post 11.3029289 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a $1.38 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 annualized dividend and a dividend yield of 4.04%. Royal Bank of Canada’s dividend payout ratio is currently 51.25%.

About Royal Bank of Canada

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.