Royal Bank of Canada (TSE:RY) Given Consensus Rating of "Buy" by Brokerages

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY has received a consensus recommendation of "Buy" from the twelve research firms that are presently covering the stock, MarketBeat.com reports. 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. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$175.92.

A number of research analysts have recently weighed in on RY shares. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a "buy" rating on the stock in a report on Monday, August 12th. BMO Capital Markets increased their price objective on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. Barclays raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. Finally, Scotiabank raised their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th.

Royal Bank of Canada Stock Up 0.2 %

Shares of TSE RY traded up C$0.36 during mid-day trading on Friday, reaching C$176.16. 1,436,000 shares of the company were exchanged, compared to its average volume of 4,813,469. Royal Bank of Canada has a 1 year low of C$120.28 and a 1 year high of C$176.27. The firm has a 50-day moving average of C$170.78 and a 200 day moving average of C$157.99. The stock has a market cap of C$248.39 billion, a price-to-earnings ratio of 15.60, 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 announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. On average, equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling

In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the 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 completion of the transaction, the insider now owns 25 shares of the company's stock, valued at approximately C$4,115. This trade represents a 99.75 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Over the last ninety days, insiders sold 144,770 shares of company stock worth $23,959,265.

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.