Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at Cormark lifted their FY2017 EPS estimates for shares of Royal Bank of Canada in a report issued on Thursday. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $7.62 per share for the year, up from their prior estimate of $7.53. Cormark also issued estimates for Royal Bank of Canada’s Q4 2017 earnings at $1.97 EPS, Q1 2018 earnings at $2.00 EPS, Q2 2018 earnings at $1.98 EPS, Q3 2018 earnings at $2.07 EPS, Q4 2018 earnings at $2.05 EPS and FY2018 earnings at $8.10 EPS.

A number of other brokerages have also issued reports on RY. National Bank Financial reaffirmed a “sector perform” rating and set a C$99.00 price objective on shares of Royal Bank of Canada in a report on Friday, May 26th. Scotiabank raised their price target on Royal Bank of Canada from C$101.00 to C$102.00 and gave the stock an “outperform” rating in a research report on Friday, May 26th. BMO Capital Markets restated a “market perform” rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a research report on Thursday. Eight Capital raised their price target on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday. Finally, Barclays PLC raised their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$99.75.

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Royal Bank of Canada (TSE RY) opened at 93.25 on Friday. The firm’s 50 day moving average is $93.80 and its 200-day moving average is $95.01. The firm has a market cap of $135.95 billion and a price-to-earnings ratio of 12.74. Royal Bank of Canada has a 12 month low of $79.75 and a 12 month high of $99.90.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be paid a dividend of $0.91 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.90%.

In related news, insider Alex Douglas Mcgregor sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of C$92.79, for a total value of C$2,783,700.00. Also, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of C$93.65, for a total value of C$501,214.80. Insiders have sold 46,116 shares of company stock worth $4,280,680 in the last 90 days.

About Royal Bank of Canada

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 (TSE:RY)

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