FY2017 EPS Estimates for Royal Bank of Canada (RY) Boosted by Analyst
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at National Bank Financial upped their FY2017 earnings estimates for shares of Royal Bank of Canada in a research report issued on Wednesday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will earn $7.58 per share for the year, up from their previous forecast of $7.49. National Bank Financial currently has a “Sector Perform” rating and a $99.00 target price on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.89 EPS, Q1 2018 earnings at $1.99 EPS, Q3 2018 earnings at $2.05 EPS, Q4 2018 earnings at $2.06 EPS and FY2018 earnings at $8.08 EPS.
RY has been the topic of several other research reports. Eight Capital lifted their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday. Barclays PLC boosted their target price on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday. BMO Capital Markets reiterated a “market perform” rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a research note on Thursday. Finally, Scotiabank cut shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$102.00 to C$100.00 in a research note on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of C$99.75.
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Shares of Royal Bank of Canada (TSE RY) opened at 93.25 on Friday. Royal Bank of Canada has a 1-year low of $79.75 and a 1-year high of $99.90. The company has a market capitalization of $135.95 billion and a PE ratio of 12.74. The stock’s 50 day moving average is $93.80 and its 200 day moving average is $95.01.
In other news, Director David Ian Mckay sold 5,352 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total transaction of C$491,206.56. Also, insider Alex Douglas Mcgregor sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of C$92.79, for a total value of C$2,783,700.00. In the last quarter, insiders sold 46,116 shares of company stock worth $4,280,680.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be paid a $0.91 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 dividend on an annualized basis and a yield of 3.90%.
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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