Royal Bank of Canada (TSE:RY) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$292.86.

A number of equities analysts recently weighed in on RY shares. National Bank Financial upped their target price on shares of Royal Bank of Canada from C$318.00 to C$321.00 and gave the stock an “outperform” rating in a research report on Sunday, August 30th. Jefferies Financial Group raised their target price on shares of Royal Bank of Canada from C$268.00 to C$271.00 in a research note on Thursday, September 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Royal Bank of Canada from C$316.00 to C$324.00 in a report on Monday, August 31st. Scotia boosted their price target on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 28th. Finally, Canaccord Genuity Group boosted their price target on shares of Royal Bank of Canada from C$310.00 to C$318.00 and gave the stock a “buy” rating in a research note on Friday, August 28th.

Royal Bank of Canada Price Performance

RY stock opened at C$284.16 on Friday. Royal Bank of Canada has a 1-year low of C$201.76 and a 1-year high of C$306.38. The business has a 50 day simple moving average of C$282.96 and a two-hundred day simple moving average of C$264.23. The company has a market capitalization of C$393.40 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 3.42 and a beta of 0.89.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The firm had revenue of C$18.54 billion for the quarter. Sell-side analysts anticipate that Royal Bank of Canada will post 12.35 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be given a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.5%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.49%.

Insider Activity

In related news, insider Kelly Bradley sold 359 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$282.24, for a total value of C$101,324.16. Also, insider Maria Elena Douvas sold 9,604 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of C$275.20, for a total value of C$2,643,020.80. Insiders sold 75,908 shares of company stock worth $21,177,587 over the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.