Royal Bank Of Canada (NYSE:RY) (TSE:RY) – Investment analysts at Desjardins lifted their FY2017 earnings per share estimates for shares of Royal Bank Of Canada in a research report issued on Wednesday. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $6.00 for the year, up from their previous forecast of $5.44.

A number of other research analysts also recently weighed in on the company. Scotiabank downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Howard Weil downgraded Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research raised Royal Bank Of Canada from a “sell” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Wednesday, August 9th. Finally, Canaccord Genuity began coverage on Royal Bank Of Canada in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $85.00.

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Royal Bank Of Canada (NYSE:RY) opened at 74.76 on Monday. Royal Bank Of Canada has a 1-year low of $60.50 and a 1-year high of $76.01. The stock has a market cap of $109.00 billion, a price-to-earnings ratio of 12.97 and a beta of 1.07. The stock has a 50 day moving average of $74.31 and a 200 day moving average of $72.13.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 23rd. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by $0.01. Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The business had revenue of $7.43 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the previous year, the business posted $1.72 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be issued a $0.724 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $2.90 dividend on an annualized basis and a yield of 3.87%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is 48.55%.

A number of hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale raised its stake in shares of Royal Bank Of Canada by 20.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 215,900 shares of the financial services provider’s stock valued at $15,849,000 after buying an additional 36,581 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Royal Bank Of Canada by 11.2% in the first quarter. First Trust Advisors LP now owns 245,614 shares of the financial services provider’s stock valued at $17,908,000 after buying an additional 24,682 shares during the last quarter. Trillium Asset Management LLC raised its stake in shares of Royal Bank Of Canada by 0.4% in the first quarter. Trillium Asset Management LLC now owns 46,406 shares of the financial services provider’s stock valued at $3,383,000 after buying an additional 166 shares during the last quarter. Nwam LLC purchased a new stake in shares of Royal Bank Of Canada during the first quarter valued at $323,000. Finally, Eqis Capital Management Inc. raised its stake in shares of Royal Bank Of Canada by 19.1% in the first quarter. Eqis Capital Management Inc. now owns 4,284 shares of the financial services provider’s stock valued at $312,000 after buying an additional 687 shares during the last quarter. 45.67% of the stock is currently owned by hedge funds and other institutional investors.

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 (NYSE:RY)

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