Cormark Cuts Earnings Estimates for Royal Bank of Canada

Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY - Research analysts at Cormark lowered their FY2025 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a note issued to investors on Thursday, December 5th. Cormark analyst L. Persaud now forecasts that the financial services provider will post earnings per share of $12.81 for the year, down from their prior forecast of $12.91. The consensus estimate for Royal Bank of Canada's current full-year earnings is $12.35 per share.

Several other brokerages have also weighed in on RY. Barclays raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Jefferies Financial Group lowered their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a "buy" rating for the company in a report on Monday, August 12th. BMO Capital Markets reduced their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Finally, TD Securities cut Royal Bank of Canada from a "buy" rating to a "hold" rating and raised their price objective for the stock from C$178.00 to C$180.00 in a research note on Friday, November 15th. Two 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. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of C$176.58.

Royal Bank of Canada Stock Performance

Shares of RY stock traded down C$0.01 during mid-day trading on Monday, reaching C$178.26. 858,573 shares of the company were exchanged, compared to its average volume of 4,773,036. The business's 50 day simple moving average is C$171.85 and its 200 day simple moving average is C$159.17. The company has a market capitalization of C$251.35 billion, a P/E ratio of 15.79, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a fifty-two week low of C$124.49 and a fifty-two week high of C$180.45.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,198.75. The trade was a 99.85 % decrease in their position. Over the last 90 days, insiders have sold 34,648 shares of company stock worth $5,811,275.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.48 dividend. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.32%. Royal Bank of Canada's dividend payout ratio is 50.31%.

Royal Bank of Canada Company Profile

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.