Q3 2017 EPS Estimates for Royal Bank of Canada Raised by National Bank Financial (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at National Bank Financial boosted their Q3 2017 earnings per share estimates for shares of Royal Bank of Canada in a research note issued to investors on Thursday. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $1.85 for the quarter, up from their prior forecast of $1.83. National Bank Financial has a “Sector Perform” rating and a $99.00 price objective on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.84 EPS, FY2017 earnings at $7.49 EPS, Q1 2018 earnings at $1.96 EPS, Q2 2018 earnings at $2.00 EPS and FY2018 earnings at $7.96 EPS.
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Separately, Scotiabank lowered Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$102.00 to C$100.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of C$95.67.
Shares of Royal Bank of Canada (TSE:RY) opened at 92.07 on Monday. The company has a market capitalization of $134.14 billion and a PE ratio of 12.53. The firm has a 50-day moving average price of $94.00 and a 200-day moving average price of $95.07. Royal Bank of Canada has a 12 month low of $79.75 and a 12 month high of $99.90.
In related news, insider Alex Douglas Mcgregor sold 30,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total transaction of C$2,783,700.00. Also, insider Jennifer Anne Tory sold 360 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of C$93.63, for a total value of C$33,706.80. Insiders have sold a total of 40,400 shares of company stock worth $3,756,065 in the last 90 days.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $3.48 dividend on an annualized basis and a yield of 3.78%.
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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