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

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY)’s share price passed 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.

Analyst Ratings Changes

A number of brokerages recently commented on RY. Scotiabank raised their target price 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. Desjardins raised their target price on Royal Bank of Canada from C$136.00 to C$142.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. CIBC decreased 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 stock an “outperform” rating in a report on Wednesday, December 20th. Finally, Bank of America raised Royal Bank of Canada from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$130.00 to C$146.00 in a report on Monday, December 18th. Two 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. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Hold” and an average target price of C$137.03.

Get Our Latest Stock Report on RY

Royal Bank of Canada Price Performance

The stock has a market cap of C$190.59 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 10.64 and a beta of 0.84. The stock has a 50-day moving average price of C$133.05 and a two-hundred day moving average price of C$126.20.

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

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors 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 yield of 4.08%. Royal Bank of Canada’s dividend payout ratio 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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