Q2 2018 EPS Estimates for Royal Bank of Canada (RY) Raised by Analyst
Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities researchers at National Bank Financial raised their Q2 2018 EPS estimates for shares of Royal Bank of Canada in a research report issued on Thursday. National Bank Financial analyst G. Dechaine now anticipates that the financial services provider will post earnings per share of $2.03 for the quarter, up from their prior forecast of $1.99. National Bank Financial currently has a “Sector Perform” rating and a $107.00 price objective on the stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q3 2018 earnings at $2.10 EPS.
RY has been the subject of several other reports. CSFB raised their target price on Royal Bank of Canada from C$105.00 to C$108.00 and gave the company an “outperform” rating in a research note on Thursday, November 30th. BMO Capital Markets raised their target price on Royal Bank of Canada from C$100.00 to C$102.00 and gave the company a “market perform” rating in a research note on Thursday, November 30th. Canaccord Genuity raised their target price on Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. Eight Capital raised their target price on Royal Bank of Canada from C$105.00 to C$107.00 in a research note on Thursday, November 30th. Finally, Desjardins raised their target price on Royal Bank of Canada from C$108.00 to C$109.00 in a research note on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of C$107.58.
Shares of Royal Bank of Canada (TSE:RY) opened at C$105.16 on Monday. The company has a market capitalization of $153,580.00, a PE ratio of 13.91 and a beta of 0.72. Royal Bank of Canada has a 12 month low of C$90.13 and a 12 month high of C$105.44.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a $0.91 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $3.64 annualized dividend and a yield of 3.46%. Royal Bank of Canada’s payout ratio is 46.03%.
In other Royal Bank of Canada news, Director David Ian Mckay sold 5,352 shares of Royal Bank of Canada stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of C$101.53, for a total transaction of C$543,388.56. Also, Director Jeffery William Yabuki bought 1,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of C$79.63 per share, for a total transaction of C$79,630.00. In the last ninety days, insiders sold 18,795 shares of company stock worth $1,907,804.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.
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