Royal Bank Of Canada (NYSE:RY) Stock Has Consensus Target Price of $225.00

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $225.00.

Several equities analysts have recently weighed in on RY shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th.

Royal Bank Of Canada Stock Down 0.7%

RY opened at $195.31 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $270.30 billion, a P/E ratio of 17.09, a PEG ratio of 1.76 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $143.13 and a 52 week high of $218.57. The business’s fifty day simple moving average is $207.00 and its 200 day simple moving average is $194.08.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is 43.39%.

Institutional Investors Weigh In On Royal Bank Of Canada

Institutional investors have recently modified their holdings of the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $25,000. Key Financial Inc boosted its stake in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Royal Bank Of Canada during the 2nd quarter valued at about $28,000. Maseco LLP grew its position in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the last quarter. Finally, Highland Investment Advisors LLC bought a new position in Royal Bank Of Canada in the 2nd quarter worth about $31,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.