Brokers Issue Forecasts for Royal Bank of Canada’s Q2 2022 Earnings (TSE:RY)

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) – Stock analysts at Desjardins dropped their Q2 2022 EPS estimates for Royal Bank of Canada in a research report issued on Monday, May 9th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $2.68 for the quarter, down from their previous estimate of $2.69.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last posted its quarterly earnings data on Thursday, February 24th. The financial services provider reported C$2.87 earnings per share for the quarter, topping the consensus estimate of C$2.72 by C$0.15. The company had revenue of C$13.07 billion during the quarter.

RY has been the topic of several other reports. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$148.00 to C$150.00 in a research report on Thursday, February 17th. National Bankshares increased their price target on shares of Royal Bank of Canada from C$140.00 to C$147.00 in a research report on Wednesday, February 23rd. Scotiabank reduced their price target on shares of Royal Bank of Canada from C$163.00 to C$150.00 in a research report on Wednesday, April 13th. TD Securities increased their price target on shares of Royal Bank of Canada from C$150.00 to C$165.00 in a research report on Tuesday, February 15th. Finally, Fundamental Research reduced their price target on shares of Royal Bank of Canada from C$152.07 to C$151.16 and set a “buy” rating on the stock in a research report on Monday, March 7th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$147.44.

RY stock opened at C$126.62 on Thursday. The company’s 50 day moving average is C$135.87 and its 200 day moving average is C$136.57. The stock has a market cap of C$179.37 billion and a price-to-earnings ratio of 11.27. Royal Bank of Canada has a 1-year low of C$121.15 and a 1-year high of C$149.60.

In other Royal Bank of Canada news, Director David Ian Mckay sold 4,077 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of C$141.68, for a total transaction of C$577,611.83. Following the completion of the transaction, the director now owns 5,873 shares of the company’s stock, valued at C$832,061.39. Also, Senior Officer Helena Gottschling sold 404 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of C$141.65, for a total value of C$57,226.60. Following the transaction, the insider now directly owns 1,328 shares of the company’s stock, valued at approximately C$188,111.20. Insiders sold 13,039 shares of company stock valued at $1,821,733 in the last ninety days.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Monday, April 25th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Friday, April 22nd. Royal Bank of Canada’s payout ratio is 39.50%.

About Royal Bank of Canada (Get Rating)

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.

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