Royal Bank of Canada Expected to Earn FY2018 Earnings of $8.22 Per Share (RY)
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Cormark lifted their FY2018 EPS estimates for shares of Royal Bank of Canada in a report issued on Friday. Cormark analyst M. Grauman now forecasts that the financial services provider will post earnings per share of $8.22 for the year, up from their prior forecast of $8.10. Cormark also issued estimates for Royal Bank of Canada’s FY2019 earnings at $8.78 EPS.
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Other research analysts also recently issued research reports about the stock. CIBC boosted their target price on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Canaccord Genuity upped their price objective on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a report on Wednesday, November 1st. Eight Capital upped their price objective on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Barclays PLC upped their price objective on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. Finally, BMO Capital Markets restated a “market perform” rating and set a C$100.00 price objective on shares of Royal Bank of Canada in a report on Thursday, August 24th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of C$100.83.
Royal Bank of Canada (TSE:RY) opened at C$100.89 on Monday. Royal Bank of Canada has a 1 year low of C$86.77 and a 1 year high of C$102.15.
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 given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, October 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.45%.
In other news, Director David Ian Mckay sold 5,352 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$91.78, for a total value of C$491,206.56. Also, insider Jennifer Anne Tory sold 364 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total transaction of C$33,407.92. Insiders have sold 25,348 shares of company stock valued at $2,405,033 in the last quarter.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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