Q4 2017 EPS Estimates for Royal Bank Of Canada (RY) Increased by Analyst
Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Cormark upped their Q4 2017 earnings per share estimates for shares of Royal Bank Of Canada in a research report issued to clients and investors on Thursday. Cormark analyst M. Grauman now forecasts that the financial services provider will post earnings per share of $1.58 for the quarter, up from their previous estimate of $1.41. Cormark also issued estimates for Royal Bank Of Canada’s Q1 2018 earnings at $1.60 EPS, Q2 2018 earnings at $1.58 EPS, Q3 2018 earnings at $1.66 EPS and Q4 2018 earnings at $1.64 EPS.
A number of other research firms also recently weighed in on RY. Zacks Investment Research downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Canaccord Genuity started coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. National Bank Financial reissued a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Finally, Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Royal Bank Of Canada currently has a consensus rating of “Hold” and a consensus price target of $85.00.
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Royal Bank Of Canada (NYSE RY) opened at 74.76 on Friday. Royal Bank Of Canada has a 52-week low of $60.50 and a 52-week high of $76.01. The firm’s 50-day moving average price is $74.31 and its 200 day moving average price is $72.13. The firm has a market cap of $109.00 billion, a price-to-earnings ratio of 12.97 and a beta of 1.07.
Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the consensus estimate of $1.42 by $0.01. The firm had revenue of $7.43 billion for the quarter, compared to analyst estimates of $7.11 billion. Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. During the same period last year, the firm earned $1.72 EPS.
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 $0.724 per share. This represents a $2.90 dividend on an annualized basis and a yield of 3.87%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, October 25th. Royal Bank Of Canada’s payout ratio is presently 48.55%.
Large investors have recently added to or reduced their stakes in the stock. Welch Group LLC bought a new stake in Royal Bank Of Canada during the first quarter worth $101,000. Quadrant Capital Group LLC increased its stake in Royal Bank Of Canada by 4.0% in the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock worth $102,000 after buying an additional 65 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Royal Bank Of Canada during the first quarter worth $123,000. Proficio Capital Partners LLC increased its stake in Royal Bank Of Canada by 125.3% in the first quarter. Proficio Capital Partners LLC now owns 2,098 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,167 shares during the last quarter. Finally, Jolley Asset Management LLC increased its stake in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after buying an additional 25 shares during the last quarter. 45.67% of the stock is currently owned by institutional investors.
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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