Royal Bank of Canada (TSE:RY) Receives C$163.38 Consensus Target Price from Analysts

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have been given a consensus recommendation of "Buy" by the twelve analysts that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$163.38.

A number of equities research analysts recently commented on the company. CIBC increased their price target on Royal Bank of Canada from C$166.00 to C$167.00 in a research report on Friday, September 6th. BMO Capital Markets raised their target price on Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 29th. UBS Group set a C$165.00 target price on shares of Royal Bank of Canada and gave the stock a "buy" rating in a research note on Tuesday, July 2nd. Barclays boosted their price objective on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research report on Tuesday, August 20th. Finally, Canaccord Genuity Group increased their price objective on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th.

Royal Bank of Canada Trading Up 2.0 %

Royal Bank of Canada stock traded up C$3.35 on Friday, reaching C$170.38. 4,152,808 shares of the stock were exchanged, compared to its average volume of 4,725,400. Royal Bank of Canada has a twelve month low of C$107.92 and a twelve month high of C$170.53. The firm has a fifty day moving average price of C$160.33 and a two-hundred day moving average price of C$149.08. The stock has a market cap of C$240.24 billion, a PE ratio of 15.09, a PEG ratio of 10.64 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 (EPS) for the quarter, topping analysts' consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Equities analysts anticipate that Royal Bank of Canada will post 12.8820355 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd will be paid a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.33%. Royal Bank of Canada's payout ratio is currently 50.31%.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the transaction, the insider now directly owns 25 shares of the company's stock, valued at approximately C$4,174.03. This trade represents a 0.00 % decrease in their ownership of the stock. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the transaction, the insider now owns 25 shares of the company's stock, valued at C$4,174.03. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 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$164.59, for a total value of C$12,320,115.24. Over the last quarter, insiders have sold 144,770 shares of company stock valued at $23,959,265.

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.