Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY - Stock analysts at Cormark issued their Q4 2024 EPS estimates for Royal Bank of Canada in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud forecasts that the financial services provider will post earnings of $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada's current full-year earnings is $12.35 per share.
Other equities analysts have also issued research reports about the company. CIBC raised their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday. Desjardins upped their target price on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating and raised their target price for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Canaccord Genuity Group boosted their target price on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a report on Tuesday, November 19th. Finally, Bank of America raised their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$175.92.
View Our Latest Stock Analysis on RY
Royal Bank of Canada Stock Performance
Shares of TSE:RY traded up C$1.11 on Wednesday, hitting C$175.77. 3,371,737 shares of the company's stock were exchanged, compared to its average volume of 4,845,288. The firm's 50-day moving average is C$170.42 and its 200 day moving average is C$157.50. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.77. The company has a market capitalization of C$247.84 billion, a PE ratio of 15.57, a P/E/G ratio of 3.42 and a beta of 0.84.
Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The company had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion.
Insiders Place Their Bets
In related news, Director David Ian Mckay sold 74,852 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the transaction, the insider now directly owns 25 shares in the company, valued at approximately C$4,115. The trade was a 99.75 % decrease in their position. In the last three months, insiders have sold 144,770 shares of company stock worth $23,959,265.
Royal Bank of Canada Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is 50.31%.
About Royal Bank of Canada
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Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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