Royal Bank Of Canada (NYSE:RY) Announces Quarterly Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) posted its earnings results on Wednesday. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.23, Zacks reports. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $154.42 on Wednesday. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $155.12. The stock has a fifty day simple moving average of $147.59 and a two-hundred day simple moving average of $138.80. The firm has a market cap of $216.29 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC raised its position in shares of Royal Bank Of Canada by 5.3% in the second quarter. EP Wealth Advisors LLC now owns 3,058 shares of the financial services provider’s stock worth $402,000 after buying an additional 155 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. raised its holdings in shares of Royal Bank Of Canada by 0.5% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 29,695 shares of the financial services provider’s stock valued at $3,906,000 after acquiring an additional 157 shares in the last quarter. Pathstone Holdings LLC boosted its position in shares of Royal Bank Of Canada by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 66,712 shares of the financial services provider’s stock valued at $9,828,000 after acquiring an additional 178 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Royal Bank Of Canada by 86.5% during the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada in the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on RY shares. Jefferies Financial Group downgraded shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen reiterated a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

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.