Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Equities researchers at Desjardins upped their FY2017 earnings estimates for Royal Bank Of Canada in a report issued on Wednesday. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $6.00 for the year, up from their prior forecast of $5.44.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.42 by $0.01. Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The company had revenue of $7.43 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. COPYRIGHT VIOLATION NOTICE: “FY2017 EPS Estimates for Royal Bank Of Canada (RY) Increased by Desjardins” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/fy2017-eps-estimates-for-royal-bank-of-canada-ry-increased-by-desjardins/1528888.html.

Several other equities analysts have also recently issued reports on RY. Scotiabank cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Monday, August 21st. BidaskClub upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. Howard Weil cut Royal Bank Of Canada to a “sector perform” rating in a research report on Monday, August 21st. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $85.00.

Royal Bank Of Canada (NYSE:RY) opened at 74.45 on Monday. The stock has a market capitalization of $108.54 billion, a PE ratio of 12.91 and a beta of 1.07. The stock’s 50 day moving average price is $74.31 and its 200-day moving average price is $72.13. Royal Bank Of Canada has a 52-week low of $60.50 and a 52-week high of $76.01.

Several large investors have recently added to or reduced their stakes in the company. Jolley Asset Management LLC boosted its stake in Royal Bank Of Canada by 1.0% in the second quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after buying an additional 25 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Royal Bank Of Canada by 1.2% in the second quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock worth $159,000 after buying an additional 26 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Royal Bank Of Canada by 1.0% in the first quarter. Stratos Wealth Partners LTD. now owns 3,874 shares of the financial services provider’s stock worth $282,000 after buying an additional 37 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Royal Bank Of Canada by 4.0% in the second quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock worth $102,000 after buying an additional 65 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Royal Bank Of Canada by 2.4% in the first quarter. Parallel Advisors LLC now owns 4,073 shares of the financial services provider’s stock worth $276,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 40.67% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a $0.724 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $2.90 dividend on an annualized basis and a dividend yield of 3.89%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s dividend payout ratio is currently 48.55%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Earnings History and Estimates for Royal Bank Of Canada (NYSE:RY)

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