Desjardins Issues Positive Outlook for RY Earnings

Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY - Stock analysts at Desjardins boosted their Q4 2024 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a research report issued on Friday, November 1st. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $2.11 per share for the quarter, up from their previous forecast of $2.09. The consensus estimate for Royal Bank of Canada's current full-year earnings is $8.91 per share.

Several other brokerages have also recently weighed in on RY. BMO Capital Markets boosted their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, July 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

RY stock traded up $0.48 during midday trading on Monday, reaching $122.27. The stock had a trading volume of 524,269 shares, compared to its average volume of 1,080,297. Royal Bank of Canada has a 52-week low of $83.57 and a 52-week high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company's fifty day simple moving average is $122.81 and its 200 day simple moving average is $112.36. The company has a market cap of $172.85 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion.

Institutional Investors Weigh In On Royal Bank of Canada

Large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada during the 3rd quarter worth about $25,000. Ridgewood Investments LLC purchased a new stake in shares of Royal Bank of Canada during the second quarter worth approximately $27,000. Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock worth $28,000 after acquiring an additional 118 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada during the 2nd quarter worth approximately $33,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is currently 50.67%.

About Royal Bank of Canada

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.