Erste Group Bank Analysts Decrease Earnings Estimates for RY

Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Stock analysts at Erste Group Bank reduced their FY2027 earnings per share (EPS) estimates for Royal Bank Of Canada in a research report issued on Thursday, June 25th. Erste Group Bank analyst H. Engel now forecasts that the financial services provider will earn $12.33 per share for the year, down from their previous forecast of $12.57. The consensus estimate for Royal Bank Of Canada’s current full-year earnings is $11.45 per share.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter last year, the business posted $3.12 EPS. The company’s revenue was up 11.4% compared to the same quarter last year.

RY has been the topic of a number of other research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank Of Canada has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Price Performance

Shares of RY stock opened at $208.18 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $209.37. The company has a market cap of $289.32 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.64 and a beta of 0.79. The business has a fifty day simple moving average of $190.34 and a 200 day simple moving average of $175.99.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares during the last quarter. FIL Ltd raised its holdings in Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after buying an additional 255,465 shares during the last quarter. Norges Bank acquired a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Bank of Nova Scotia boosted its position in Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after buying an additional 238,589 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.