Royal Bank of Canada (RY) to Release Quarterly Earnings on Wednesday

Royal Bank of Canada (TSE:RY) (NYSE:RY) will issue its quarterly earnings data before the market opens on Wednesday, December 4th. Analysts expect the company to announce earnings of C$2.99 per share for the quarter.

Royal Bank of Canada Stock Up 0.2 %

Shares of TSE RY opened at C$176.16 on Monday. The company has a 50 day moving average of C$170.78 and a 200 day moving average of C$157.99. Royal Bank of Canada has a twelve month low of C$120.28 and a twelve month high of C$176.27. The firm has a market cap of C$248.39 billion, a P/E ratio of 15.60, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.31%.

Analyst Ratings Changes

RY has been the topic of several research analyst reports. Scotiabank upped their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their target price for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research note on Monday, November 18th. Canaccord Genuity Group raised their price target on Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. Finally, Cormark lifted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$175.92.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 7,500 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock. In the last 90 days, insiders have sold 144,770 shares of company stock worth $23,959,265.

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.