Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$145.71

Royal Bank of Canada (TSE:RY) (NYSE:RY) has been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$145.71.

RY has been the topic of a number of research reports. BMO Capital Markets lowered shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, May 31st. TD Securities boosted their target price on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the stock a “buy” rating in a report on Friday, May 31st. CIBC boosted their target price on shares of Royal Bank of Canada from C$135.00 to C$150.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Jefferies Financial Group boosted their target price on shares of Royal Bank of Canada from C$159.00 to C$168.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Scotiabank boosted their target price on shares of Royal Bank of Canada from C$148.00 to C$153.00 and gave the stock an “outperform” rating in a report on Friday, May 31st.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the completion of the transaction, the insider now owns 235 shares in the company, valued at C$33,133.12. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the transaction, the insider now owns 235 shares of the company’s stock, valued at approximately C$33,133.12. Over the last 90 days, insiders sold 101,302 shares of company stock worth $14,592,565.

Royal Bank of Canada Trading Down 2.2 %

Shares of TSE:RY opened at C$148.96 on Monday. The firm has a 50 day moving average of C$147.95 and a 200-day moving average of C$139.65. The stock has a market capitalization of C$210.03 billion, a PE ratio of 13.91, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$155.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.77 by C$0.15. The business had revenue of C$14.15 billion during the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. On average, research analysts predict that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $5.68 annualized dividend and a dividend yield of 3.81%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.38. Royal Bank of Canada’s dividend payout ratio is currently 51.54%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.