Royal Bank of Canada (TSE:RY) to Post FY2024 Earnings of $12.03 Per Share, National Bank Financial Forecasts

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at National Bank Financial increased their FY2024 earnings per share estimates for shares of Royal Bank of Canada in a research report issued to clients and investors on Wednesday, August 28th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $12.03 per share for the year, up from their previous forecast of $11.78. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.86 per share. National Bank Financial also issued estimates for Royal Bank of Canada’s FY2025 earnings at $13.46 EPS.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion.

Several other equities analysts have also recently issued reports on RY. BMO Capital Markets raised their price target on Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. TD Securities raised their price objective on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. CIBC increased their price target on Royal Bank of Canada from C$155.00 to C$166.00 in a research note on Thursday, August 29th. Barclays upped their price objective on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Finally, UBS Group set a C$165.00 price target on Royal Bank of Canada and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$161.50.

Royal Bank of Canada Stock Up 1.4 %

Shares of TSE:RY opened at C$162.98 on Monday. The firm has a market cap of C$231.43 billion, a P/E ratio of 14.44, a P/E/G ratio of 10.64 and a beta of 0.85. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$163.06. The company’s 50-day moving average price is C$151.78 and its two-hundred day moving average price is C$143.01.

Insider Activity

In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the transaction, the insider now directly owns 25 shares in the company, valued at approximately C$3,628.83. In other news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Also, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at approximately C$3,628.83. In the last 90 days, insiders sold 101,302 shares of company stock valued at $14,592,565.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

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.