Royal Bank of Canada (TSE:RY) Receives C$207.15 Consensus Price Target from Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$209.31.

RY has been the topic of several analyst reports. National Bankshares upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$203.00 to C$231.00 in a report on Monday. Scotiabank raised their price objective on shares of Royal Bank of Canada from C$210.00 to C$218.00 in a research report on Friday, October 10th. CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and set a C$208.00 target price on the stock. in a research note on Friday, September 5th. BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from C$190.00 to C$203.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. Finally, Jefferies Financial Group raised their price target on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday, August 13th.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at C$208.38 on Friday. The business’s 50 day moving average price is C$204.53 and its 200 day moving average price is C$189.09. The company has a market cap of C$293.88 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$209.06.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 24th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $6.16 annualized dividend and a yield of 3.0%. Royal Bank of Canada’s dividend payout ratio (DPR) is 44.78%.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.