Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Investment analysts at Cormark increased their FY2017 earnings estimates for Royal Bank Of Canada in a research note issued to investors on Thursday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $6.10 per share for the year, up from their prior forecast of $5.57. Cormark also issued estimates for Royal Bank Of Canada’s FY2018 earnings at $6.48 EPS.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.42 by $0.01. Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The firm had revenue of $7.43 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period last year, the business posted $1.72 EPS.

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RY has been the subject of several other research reports. Zacks Investment Research lowered Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. National Bank Financial restated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, May 18th. BidaskClub upgraded Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Canaccord Genuity started coverage on Royal Bank Of Canada in a research note on Tuesday, July 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $85.00.

Royal Bank Of Canada (NYSE:RY) opened at 74.76 on Monday. Royal Bank Of Canada has a 52 week low of $60.50 and a 52 week high of $76.01. The firm has a 50-day moving average price of $74.31 and a 200 day moving average price of $72.13. The company has a market cap of $109.00 billion, a P/E ratio of 12.97 and a beta of 1.07.

A number of large investors have recently bought and sold shares of the company. Welch Group LLC purchased a new stake in Royal Bank Of Canada during the first quarter valued at approximately $101,000. Quadrant Capital Group LLC raised 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 valued at $102,000 after buying an additional 65 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Royal Bank Of Canada during the first quarter valued at approximately $123,000. Proficio Capital Partners LLC raised 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 valued at $145,000 after buying an additional 1,167 shares during the period. Finally, Jolley Asset Management LLC raised 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 valued at $176,000 after buying an additional 25 shares during the period. Institutional investors own 45.67% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be paid a dividend of $0.724 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. This represents a $2.90 annualized dividend and a yield of 3.87%. The ex-dividend date is Wednesday, October 25th. Royal Bank Of Canada’s payout ratio is 48.55%.

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.

Earnings History and Estimates for Royal Bank Of Canada (NYSE:RY)

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