Royal Bank of Canada (TSE:RY) Receives C$137.65 Average Target Price from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$137.65.

RY has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their target price on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. CIBC dropped their target price on shares of Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating on the stock in a research report on Friday, March 8th. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their target price for the company from C$140.00 to C$150.00 in a research report on Friday, April 5th. Finally, Scotiabank raised their price objective on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th.

Royal Bank of Canada Stock Up 1.0 %

Royal Bank of Canada stock opened at C$135.93 on Friday. The firm has a market cap of C$191.66 billion, a PE ratio of 12.62, a price-to-earnings-growth 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. The company’s 50 day moving average is C$134.38 and its two-hundred day moving average is C$128.01.

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 EPS for the quarter, beating analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The company had revenue of C$13.49 billion for the quarter, compared to the consensus estimate of C$13.65 billion. On average, equities research analysts anticipate that Royal Bank of Canada will post 11.305 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $5.52 dividend on an annualized basis and a yield of 4.06%. Royal Bank of Canada’s dividend payout ratio (DPR) is 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.