Royal Bank of Canada (TSE:RY) Stock Passes Above 200 Day Moving Average of $126.20

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$126.20 and traded as high as C$135.73. Royal Bank of Canada shares last traded at C$135.17, with a volume of 2,444,984 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on RY shares. Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating and lifted their price objective for the company from C$130.00 to C$146.00 in a report on Monday, December 18th. Desjardins lifted their price objective on Royal Bank of Canada from C$136.00 to C$142.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. CIBC lowered their price target on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating for the company in a report on Friday, March 8th. Scotiabank boosted their price target on Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Canaccord Genuity Group boosted 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$137.03.

Read Our Latest Report on RY

Royal Bank of Canada Stock Down 0.7 %

The stock has a market capitalization of C$190.59 billion, a PE ratio of 12.55, a P/E/G ratio of 10.64 and a beta of 0.84. The firm has a 50 day moving average price of C$133.05 and a 200 day moving average price of C$126.20.

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

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 4.08%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 51.25%.

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.

Further Reading

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