Royal Bank of Canada (RY) Expected to Earn FY2018 Earnings of $7.89 Per Share
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Research analysts at Desjardins increased their FY2018 earnings per share estimates for shares of Royal Bank of Canada in a research report issued to clients and investors on Monday. Desjardins analyst D. Young now expects that the financial services provider will post earnings of $7.89 per share for the year, up from their previous forecast of $7.85. Desjardins also issued estimates for Royal Bank of Canada’s FY2019 earnings at $8.51 EPS.
A number of other research firms have also recently issued reports on RY. Canaccord Genuity raised their price objective on Royal Bank of Canada from C$100.00 to C$105.00 in a research report on Wednesday, November 1st. National Bank Financial cut their price objective on Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a research report on Thursday, August 24th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$100.00 price objective on shares of Royal Bank of Canada in a research report on Thursday, August 24th. Eight Capital raised their price objective on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Finally, Barclays PLC lifted their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Royal Bank of Canada presently has an average rating of “Hold” and a consensus target price of C$100.25.
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Royal Bank of Canada (RY) traded down C$0.29 on Tuesday, hitting C$101.06. The stock had a trading volume of 1,000,956 shares, compared to its average volume of 1,880,000. Royal Bank of Canada has a 52 week low of C$82.60 and a 52 week high of C$102.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Wednesday, October 25th.
In other news, Director Thierry Vandal bought 729 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of C$91.91 per share, with a total value of C$67,002.39. Also, Director David Ian Mckay sold 5,352 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$91.78, for a total value of C$491,206.56. Insiders sold a total of 25,348 shares of company stock worth $2,405,033 over the last three months.
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.
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