Royal Bank Of Canada (NYSE:RY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $193.00.

RY has been the topic of several recent research reports. CIBC reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank started coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Finally, Cibc World Mkts raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd.

Royal Bank Of Canada Stock Down 0.7%

Royal Bank Of Canada stock opened at $127.97 on Wednesday. The company has a market capitalization of $180.51 billion, a PE ratio of 14.22, a PEG ratio of 1.48 and a beta of 0.89. Royal Bank Of Canada has a 12-month low of $102.52 and a 12-month high of $130.00. The firm’s fifty day moving average is $122.48 and its 200 day moving average is $119.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter in the prior year, the firm earned $2.92 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.67%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Royal Bank Of Canada by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock worth $427,589,000 after buying an additional 64,450 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Royal Bank Of Canada in the 4th quarter worth about $60,034,000. Wealth High Governance Capital Ltda bought a new stake in Royal Bank Of Canada in the 4th quarter valued at about $10,243,000. Jones Financial Companies Lllp lifted its holdings in Royal Bank Of Canada by 1,322.0% during the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Unigestion Holding SA boosted its position in Royal Bank Of Canada by 48.7% during the first quarter. Unigestion Holding SA now owns 210,566 shares of the financial services provider’s stock worth $23,705,000 after purchasing an additional 68,939 shares during the period. 45.31% of the stock is currently owned by institutional investors.

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.