Royal Bank Of Canada (NYSE:RY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $225.00.

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st.

Hedge Funds Weigh In On Royal Bank Of Canada

Several institutional investors have recently made changes to their positions in the business. Global Wealth Strategies & Associates bought a new stake in Royal Bank Of Canada during the third quarter valued at approximately $215,000. Versant Capital Management Inc increased its holdings in Royal Bank Of Canada by 3.9% during the third quarter. Versant Capital Management Inc now owns 8,456 shares of the financial services provider’s stock valued at $1,662,000 after buying an additional 318 shares during the last quarter. Roxbury Financial LLC raised its position in Royal Bank Of Canada by 12.8% in the third quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 57 shares during the period. QRG Capital Management Inc. raised its position in Royal Bank Of Canada by 2.3% in the second quarter. QRG Capital Management Inc. now owns 11,823 shares of the financial services provider’s stock worth $2,447,000 after acquiring an additional 267 shares during the period. Finally, Core Capital Management & Research inc. purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth $493,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

RY opened at $195.72 on Tuesday. The company’s 50-day simple moving average is $206.73 and its two-hundred day simple moving average is $194.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $270.87 billion, a P/E ratio of 17.12, a P/E/G ratio of 1.75 and a beta of 0.80. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of C$1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is currently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.