Royal Bank of Canada (TSE:RY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Posted by Defense World Staff on May 6th, 2023

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$145.05.

A number of research firms have recently issued reports on RY. Credit Suisse Group lowered their target price on Royal Bank of Canada from C$153.00 to C$151.00 in a research note on Thursday, March 2nd. Veritas Investment Research reiterated a “buy” rating on shares of Royal Bank of Canada in a research report on Monday, February 27th. Fundamental Research set a C$140.25 target price on Royal Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, March 14th. National Bank Financial decreased their target price on Royal Bank of Canada from C$147.00 to C$145.00 in a research report on Thursday, March 2nd. Finally, CSFB reduced their price target on Royal Bank of Canada from C$153.00 to C$151.00 in a research report on Thursday, March 2nd.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 4,130 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of C$136.88, for a total transaction of C$565,320.60.

Royal Bank of Canada Stock Up 1.4 %

RY stock opened at C$131.08 on Friday. Royal Bank of Canada has a fifty-two week low of C$116.75 and a fifty-two week high of C$140.18. The business has a 50 day moving average price of C$132.08 and a 200 day moving average price of C$131.94. The stock has a market cap of C$182.20 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 4.62 and a beta of 0.74.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last announced its quarterly earnings data on Wednesday, March 1st. The financial services provider reported C$3.05 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.92 by C$0.13. Royal Bank of Canada had a return on equity of 14.23% and a net margin of 29.76%. The firm had revenue of C$15.09 billion for the quarter, compared to analyst estimates of C$13.07 billion. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 12.118018 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, April 25th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 4.03%. The ex-dividend date is Monday, April 24th. Royal Bank of Canada’s payout ratio is 49.95%.

About Royal Bank of Canada

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