Royal Bank of Canada (NYSE:RY) (TSE:RY) – Stock analysts at Cormark upped their FY2019 earnings per share (EPS) estimates for Royal Bank of Canada in a research report issued on Thursday, August 15th. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $6.78 per share for the year, up from their previous estimate of $6.70. Cormark also issued estimates for Royal Bank of Canada’s FY2020 earnings at $7.33 EPS.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.04. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $7.60 billion. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. During the same quarter in the previous year, the firm earned $2.06 EPS.

Several other research analysts have also commented on RY. Desjardins reissued a “buy” rating and set a $111.00 price objective on shares of Royal Bank of Canada in a report on Thursday, May 16th. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Thursday, August 1st. BMO Capital Markets reissued a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Finally, Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Royal Bank of Canada presently has an average rating of “Buy” and an average target price of $100.00.

RY stock opened at $74.45 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $107.19 billion, a PE ratio of 11.40, a PEG ratio of 1.95 and a beta of 1.09. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $81.56. The stock has a 50-day simple moving average of $78.42 and a two-hundred day simple moving average of $77.85.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.7596 per share. This represents a $3.04 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is 47.78%.

A number of large investors have recently added to or reduced their stakes in RY. Coastal Capital Group Inc. bought a new stake in Royal Bank of Canada in the 2nd quarter worth approximately $28,000. Resources Investment Advisors Inc. bought a new stake in Royal Bank of Canada in the 1st quarter worth approximately $30,000. Meridian Wealth Management LLC bought a new stake in Royal Bank of Canada in the 1st quarter worth approximately $30,000. CWM LLC lifted its position in Royal Bank of Canada by 86.8% in the 1st quarter. CWM LLC now owns 409 shares of the financial services provider’s stock worth $31,000 after buying an additional 190 shares during the last quarter. Finally, Capital Advisors Ltd. LLC bought a new stake in Royal Bank of Canada in the 2nd quarter worth approximately $32,000. Institutional investors own 41.47% of the company’s stock.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)

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