Royal Bank Of Canada (RY) Earns Outperform Rating from Credit Suisse Group AG
Several other research analysts have also commented on RY. Zacks Investment Research lowered shares of Royal Bank Of Canada from a hold rating to a sell rating in a report on Saturday, November 12th. Bank of America Corp. initiated coverage on shares of Royal Bank Of Canada in a report on Tuesday, November 1st. They issued an underperform rating on the stock. Barclays PLC restated a sell rating on shares of Royal Bank Of Canada in a report on Thursday, October 27th. Canaccord Genuity upgraded shares of Royal Bank Of Canada from a hold rating to a buy rating in a report on Thursday, October 13th. Finally, Dundee Securities started coverage on shares of Royal Bank Of Canada in a report on Wednesday, September 21st. They issued a neutral rating on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $83.70.
Royal Bank Of Canada (NYSE:RY) opened at 64.45 on Monday. The firm’s 50-day moving average is $62.57 and its 200 day moving average is $61.37. The firm has a market cap of $95.63 billion, a PE ratio of 12.67 and a beta of 1.19. Royal Bank Of Canada has a 12-month low of $44.37 and a 12-month high of $64.46.
Royal Bank Of Canada (NYSE:RY) last released its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.39. Royal Bank Of Canada had a net margin of 22.91% and a return on equity of 16.36%. The company had revenue of $10.26 billion for the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company earned $1.66 EPS. Equities research analysts predict that Royal Bank Of Canada will post $5.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Investors of record on Wednesday, October 26th will be paid a $0.6449 dividend. This represents a $2.58 dividend on an annualized basis and a dividend yield of 4.03%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.62. The ex-dividend date is Monday, October 24th. Royal Bank Of Canada’s dividend payout ratio is presently 50.60%.
Hedge funds have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Royal Bank Of Canada by 32.4% in the second quarter. Signaturefd LLC now owns 1,867 shares of the company’s stock worth $110,000 after buying an additional 457 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Royal Bank Of Canada during the second quarter worth $130,000. Americafirst Capital Management LLC bought a new stake in shares of Royal Bank Of Canada during the second quarter worth $139,000. Jolley Asset Management LLC boosted its stake in shares of Royal Bank Of Canada by 14.3% in the second quarter. Jolley Asset Management LLC now owns 2,400 shares of the company’s stock worth $142,000 after buying an additional 300 shares during the period. Finally, Integrated Wealth Management boosted its stake in shares of Royal Bank Of Canada by 49.3% in the second quarter. Integrated Wealth Management now owns 2,573 shares of the company’s stock worth $152,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 45.08% of the company’s stock.
Royal Bank Of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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