Royal Bank of Canada (RY) Scheduled to Post Earnings on Wednesday

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY will issue its quarterly earnings data before the market opens on Wednesday, December 4th. Analysts expect the company to announce earnings of C$2.99 per share for the quarter.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion.

Royal Bank of Canada Trading Up 0.5 %

Shares of TSE RY opened at C$174.66 on Wednesday. The firm has a market capitalization of C$246.27 billion, a PE ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a one year low of C$115.57 and a one year high of C$175.59. The business has a 50-day moving average price of C$170.24 and a two-hundred day moving average price of C$157.25.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were issued a dividend of $1.42 per share. The ex-dividend date was Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.25%. Royal Bank of Canada's dividend payout ratio is 50.31%.

Wall Street Analysts Forecast Growth

RY has been the subject of several research reports. Bank of America lifted their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Barclays upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Scotiabank raised their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday. Desjardins raised their price objective 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. Finally, Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of "Buy" and a consensus target price of C$175.92.

Insiders Place Their Bets

In other 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 transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business'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 value of C$1,646,000.00. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$4,115. This represents a 99.75 % decrease in their ownership of the stock. Insiders have sold a total of 144,770 shares of company stock valued at $23,959,265 in the last three months.

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.