Royal Bank of Canada (TSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$137.65.

A number of brokerages have recently issued reports on RY. BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$140.00 to C$150.00 in a research report on Friday, April 5th. Canaccord Genuity Group boosted their price target on shares of 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. CIBC dropped their price target 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. Finally, Scotiabank boosted their price target 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 Trading Up 0.8 %

RY opened at C$134.57 on Friday. The company’s 50 day moving average is C$134.29 and its 200-day moving average is C$127.66. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$140.77. The company has a market cap of C$189.74 billion, a P/E ratio of 12.49, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 EPS for the quarter, topping the consensus estimate 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 business had revenue of C$13.49 billion for the quarter, compared to the consensus estimate of C$13.65 billion. On average, equities analysts forecast that Royal Bank of Canada will post 11.305 EPS for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.25%.

Royal Bank of Canada Company Profile

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.