Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$110.89.

Several research firms have recently weighed in on RY. National Bank Financial reduced their price objective on shares of Royal Bank of Canada from C$111.00 to C$110.00 and set an “outperform” rating for the company in a research report on Thursday, November 29th. Barclays reduced their price objective on shares of Royal Bank of Canada from C$104.00 to C$99.00 in a research report on Friday, November 16th. Eight Capital raised their price objective on shares of Royal Bank of Canada from C$119.00 to C$122.00 in a research report on Thursday, August 23rd. CIBC raised their price objective on shares of Royal Bank of Canada from C$109.00 to C$110.00 in a research report on Thursday, August 23rd. Finally, Canaccord Genuity reduced their price objective on shares of Royal Bank of Canada from C$111.00 to C$102.00 in a research report on Thursday, November 22nd.

Shares of RY opened at C$97.60 on Thursday. Royal Bank of Canada has a 52-week low of C$93.13 and a 52-week high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, November 28th. The financial services provider reported C$2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$2.12 by C$0.12. The company had revenue of C$10.67 billion during the quarter, compared to the consensus estimate of C$11.13 billion. As a group, sell-side analysts forecast that Royal Bank of Canada will post 9.59703428016362 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Thursday, January 24th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Wednesday, January 23rd. Royal Bank of Canada’s dividend payout ratio is presently 46.84%.

In other Royal Bank of Canada news, Director David Ian Mckay sold 10,282 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of C$104.14, for a total transaction of C$1,070,767.48. Also, insider Helena Gottschling sold 1,079 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of C$104.05, for a total transaction of C$112,269.95. Insiders have sold 44,081 shares of company stock valued at $4,369,460 over the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Further Reading: Institutional Investors

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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