Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at National Bank Financial lifted their Q2 2018 earnings per share (EPS) estimates for Royal Bank of Canada in a research report issued on Thursday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $2.03 for the quarter, up from their prior forecast of $1.99. National Bank Financial currently has a “Sector Perform” rating and a $107.00 price target on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q3 2018 earnings at $2.10 EPS.
A number of other brokerages have also recently issued reports on RY. Canaccord Genuity lifted their price objective on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. CIBC lifted their price objective on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research note on Monday, November 13th. BMO Capital Markets lifted their price objective on shares of Royal Bank of Canada from C$100.00 to C$102.00 and gave the company a “market perform” rating in a research note on Thursday, November 30th. CSFB lifted their price objective on shares of 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, November 30th. Finally, Desjardins lifted their price objective on shares of Royal Bank of Canada from C$108.00 to C$109.00 in a research note on Thursday, November 30th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Royal Bank of Canada currently has a consensus rating of “Hold” and a consensus price target of C$107.58.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.04. Royal Bank of Canada had a net margin of 28.00% and a return on equity of 16.52%.
In other news, Director Jeffery William Yabuki bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were acquired at an average price of C$79.63 per share, for a total transaction of C$79,630.00. Also, insider Jennifer Anne Tory sold 344 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of C$101.55, for a total transaction of C$34,933.20. In the last three months, insiders sold 18,795 shares of company stock worth $1,907,804.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $3.64 annualized dividend and a dividend yield of 3.42%. Royal Bank of Canada’s dividend payout ratio is 46.03%.
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Royal Bank of Canada Company Profile
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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