Royal Bank of Canada (TSE:RY) Receives C$224.23 Consensus Price Target from Analysts

Royal Bank of Canada (TSE:RY) (NYSE:RY) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$224.92.

Several research analysts have weighed in on RY shares. CIBC boosted their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays boosted their target price on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Natl Bk Canada upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. UBS Group lifted their price objective on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Finally, Scotiabank upped their target price on shares of Royal Bank of Canada from C$218.00 to C$231.00 and gave the company an “outperform” rating in a report on Thursday, December 4th.

Royal Bank of Canada Stock Down 0.7%

Royal Bank of Canada stock opened at C$228.29 on Thursday. The company has a 50 day moving average of C$210.16 and a 200-day moving average of C$194.84. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$230.99. The stock has a market capitalization of C$320.75 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 3.42 and a beta of 1.29.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The business had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 24th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, October 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 42.93%.

Royal Bank of Canada Company Profile

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.