Royal Bank of Canada (NYSE:RY) Given Consensus Recommendation of “Buy” by Analysts

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $142.50.

Several research firms recently commented on RY. BMO Capital Markets upped their target price on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Institutional Investors Weigh In On Royal Bank of Canada

Several large investors have recently made changes to their positions in the business. Addison Advisors LLC lifted its stake in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its position in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC boosted its holdings in shares of Royal Bank of Canada by 3.4% during the third quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 92 shares during the period. Private Advisor Group LLC grew its position in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 95 shares during the last quarter. Finally, Shell Asset Management Co. grew its holdings in Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.1 %

Royal Bank of Canada stock opened at $125.02 on Friday. The stock has a 50-day moving average price of $123.39 and a 200 day moving average price of $114.56. Royal Bank of Canada has a 52 week low of $85.02 and a 52 week high of $126.96. The stock has a market cap of $176.74 billion, a PE ratio of 15.12, a P/E/G ratio of 1.88 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th were issued a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.79%.

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.