Royal Bank of Canada (RY) Price Target Cut to C$99.00 by Analysts at National Bank Financial
Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lowered by National Bank Financial from C$101.00 to C$99.00 in a research note published on Thursday. The brokerage currently has a sector perform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q3 2017 earnings at $1.85 EPS, Q4 2017 earnings at $1.84 EPS, Q4 2017 earnings at $1.89 EPS, FY2017 earnings at $7.58 EPS, FY2017 earnings at $7.49 EPS, Q1 2018 earnings at $1.96 EPS, Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $2.00 EPS, Q3 2018 earnings at $2.05 EPS, Q4 2018 earnings at $2.06 EPS, FY2018 earnings at $7.96 EPS and FY2018 earnings at $8.08 EPS.
RY has been the subject of a number of other reports. Scotiabank raised their price target on shares of Royal Bank of Canada from C$101.00 to C$102.00 and gave the company an outperform rating in a report on Friday, May 26th. BMO Capital Markets reaffirmed a market perform rating and set a C$100.00 price target on shares of Royal Bank of Canada in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of C$96.33.
Shares of Royal Bank of Canada (RY) traded up 0.60% on Thursday, reaching $93.48. The company had a trading volume of 613,092 shares. Royal Bank of Canada has a 1-year low of $79.75 and a 1-year high of $99.90. The stock has a market capitalization of $136.29 billion and a P/E ratio of 12.77. The company’s 50 day moving average price is $93.85 and its 200-day moving average price is $95.02.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be issued a dividend of $0.91 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a yield of 3.92%.
In other Royal Bank of Canada news, Director Thierry Vandal sold 750 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of C$93.61, for a total transaction of C$70,207.50. Also, Director David Ian Mckay sold 3,577 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of C$93.26, for a total transaction of C$333,591.02. Over the last three months, insiders have sold 46,116 shares of company stock valued at $4,280,680.
About Royal Bank of Canada
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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