Royal Bank of Canada (RY) To Go Ex-Dividend on April 24th

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Thursday, April 25th will be given a dividend of 1.38 per share by the financial services provider on Friday, May 24th. This represents a $5.52 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Wednesday, April 24th.

Royal Bank of Canada Stock Up 0.8 %

Shares of RY opened at C$134.57 on Monday. The business has a 50-day simple moving average of C$134.29 and a two-hundred day simple moving average of C$127.86. The stock has a market cap of C$189.74 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52 week low of C$107.92 and a 52 week high of C$140.77.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, topping analysts’ consensus estimates of C$2.79 by C$0.06. The business had revenue of C$13.49 billion during the quarter, compared to analysts’ expectations 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 anticipate that Royal Bank of Canada will post 11.305 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Canaccord Genuity Group increased their target price on Royal Bank of Canada from C$142.00 to C$146.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$140.00 to C$150.00 in a report on Friday, April 5th. CIBC cut 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. Finally, Scotiabank raised their price target on Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$137.65.

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.