Royal Bank of Canada (NYSE:RY) (TSE:RY) – Analysts at Desjardins reduced their FY2019 EPS estimates for Royal Bank of Canada in a research note issued to investors on Monday, May 13th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings of $6.60 per share for the year, down from their prior forecast of $6.84.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. Scotiabank reiterated an “average” rating and set a $111.00 price objective on shares of Royal Bank of Canada in a report on Friday, February 22nd. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $95.33.

Shares of NYSE RY opened at $77.95 on Wednesday. The stock has a market cap of $110.99 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Friday, February 22nd. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The business had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.31 billion. Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. During the same quarter in the prior year, the business earned $2.01 earnings per share.

A number of institutional investors have recently added to or reduced their stakes in RY. JPMorgan Chase & Co. boosted its holdings in Royal Bank of Canada by 151.6% during the third quarter. JPMorgan Chase & Co. now owns 2,553,655 shares of the financial services provider’s stock worth $204,776,000 after purchasing an additional 1,538,669 shares during the last quarter. Vanguard Group Inc boosted its holdings in Royal Bank of Canada by 2.7% during the third quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock worth $3,012,028,000 after purchasing an additional 981,890 shares during the last quarter. Cardinal Capital Management boosted its holdings in Royal Bank of Canada by 1.2% during the fourth quarter. Cardinal Capital Management now owns 39,302 shares of the financial services provider’s stock worth $2,692,000 after purchasing an additional 468 shares during the last quarter. Virtu Financial LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth about $343,000. Finally, Palisade Asset Management LLC boosted its holdings in Royal Bank of Canada by 3.0% during the fourth quarter. Palisade Asset Management LLC now owns 150,424 shares of the financial services provider’s stock worth $10,307,000 after purchasing an additional 4,393 shares during the last quarter. Institutional investors and hedge funds own 42.23% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $0.7704 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a yield of 3.95%. Royal Bank of Canada’s payout ratio is 46.86%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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

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