Royal Bank Of Canada (NYSE:RY) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $225.00.

Several brokerages have recently issued reports on RY. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating for the company. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of hedge funds have recently made changes to their positions in RY. Bank of Nova Scotia acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $2,549,157,000. The Manufacturers Life Insurance Company acquired a new position in shares of Royal Bank Of Canada during the second quarter worth $2,296,717,000. Canada Pension Plan Investment Board acquired a new position in shares of Royal Bank Of Canada during the second quarter worth $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $2,260,820,000. Finally, Legal & General Group Plc acquired a new stake in Royal Bank Of Canada during the 2nd quarter valued at $1,645,758,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Down 0.5%

Shares of RY stock opened at $194.69 on Tuesday. The firm’s 50-day simple moving average is $206.44 and its 200-day simple moving average is $194.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a 1-year low of $143.13 and a 1-year high of $218.57. The firm has a market cap of $269.45 billion, a P/E ratio of 17.03, a PEG ratio of 1.75 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities analysts forecast that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of C$1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is currently 43.39%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.