Royal Bank of Canada (RY) Set to Announce Quarterly Earnings on Thursday

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) will be announcing its earnings results before the market opens on Thursday, May 25th. Analysts expect the company to announce earnings of C$2.87 per share for the quarter.

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 (EPS) for the quarter, beating 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 analysts’ expectations of C$13.07 billion.

Royal Bank of Canada Trading Up 0.2 %

Shares of TSE:RY opened at C$128.62 on Thursday. The stock’s 50-day moving average price is C$130.94 and its 200-day moving average price is C$132.31. Royal Bank of Canada has a 12-month low of C$116.75 and a 12-month high of C$140.18. The stock has a market capitalization of C$178.78 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 4.62 and a beta of 0.74.

Royal Bank of Canada Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, April 24th. This represents a $5.28 annualized dividend and a yield of 4.11%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.24%.

Analysts Set New Price Targets

Several brokerages have commented on RY. CSFB lowered their price objective on shares of Royal Bank of Canada from C$151.00 to C$149.00 in a report on Tuesday. Cormark decreased their target price on shares of Royal Bank of Canada from C$161.00 to C$152.00 in a research note on Thursday, March 2nd. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$149.00 to C$146.00 in a research note on Friday, February 17th. National Bankshares decreased their target price on shares of Royal Bank of Canada from C$147.00 to C$145.00 and set an “outperform” rating for the company in a research note on Thursday, March 2nd. Finally, CIBC downgraded shares of Royal Bank of Canada from an “outperform” rating to a “neutral” rating and decreased their target price for the company from C$147.00 to C$142.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. According to data from, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$142.63.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 4,130 shares of Royal Bank of Canada stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of C$136.88, for a total value of C$565,320.60.

Royal Bank of Canada Company Profile

 (Get Rating)

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.

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