Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at Cormark increased their Q1 2018 EPS estimates for Royal Bank of Canada in a note issued to investors on Thursday. Cormark analyst M. Grauman now anticipates that the financial services provider will earn $2.03 per share for the quarter, up from their prior forecast of $2.02. Cormark also issued estimates for Royal Bank of Canada’s Q2 2018 earnings at $2.04 EPS, Q3 2018 earnings at $2.14 EPS, Q4 2018 earnings at $2.12 EPS, FY2018 earnings at $8.33 EPS, Q1 2019 earnings at $2.15 EPS, Q3 2019 earnings at $2.27 EPS, Q4 2019 earnings at $2.26 EPS and FY2019 earnings at $8.83 EPS.
Other analysts have also issued research reports about the company. National Bank Financial upped their price objective on Royal Bank of Canada from C$101.00 to C$105.00 and gave the company a “sector perform” rating in a research note on Thursday. Eight Capital upped their price objective on Royal Bank of Canada from C$105.00 to C$107.00 in a research note on Thursday. Desjardins upped their price objective on Royal Bank of Canada from C$108.00 to C$109.00 in a research note on Thursday. CSFB upped their price objective on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Canaccord Genuity increased their target price on Royal Bank of Canada from C$105.00 to C$108.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of C$104.67.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio is currently 47.54%.
In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of C$93.10, for a total value of C$931,000.00. Also, insider Jennifer Anne Tory sold 344 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of C$101.18, for a total value of C$34,805.92. Insiders have sold 25,328 shares of company stock worth $2,456,793 in the last three months.
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About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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