Royal Bank of Canada (TSE:RY) Receives C$206.62 Average Price Target from Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$206.62.

Several equities research analysts recently weighed in on RY shares. Erste Group Bank raised shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Monday, September 22nd. CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and set a C$208.00 price target for the company. in a research report on Friday, September 5th. Jefferies Financial Group raised their price target on shares of Royal Bank of Canada from C$198.00 to C$207.00 in a research report on Wednesday, August 13th. Cibc World Mkts downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a research report on Thursday, August 28th.

Royal Bank of Canada Stock Up 0.3%

Shares of RY opened at C$206.89 on Wednesday. The company has a market capitalization of C$291.77 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 3.42 and a beta of 1.24. The firm has a 50 day moving average of C$201.00 and a 200 day moving average of C$183.28. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$207.55.

Royal Bank of Canada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 24th will be issued a $1.54 dividend. The ex-dividend date is Monday, October 27th. This represents a $6.16 annualized dividend and a yield of 3.0%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 44.78%.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.