Royal Bank of Canada (RY) Forecasted to Post FY2020 Earnings of $9.57 Per Share

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Stock analysts at Desjardins decreased their FY2020 earnings estimates for Royal Bank of Canada in a research report issued to clients and investors on Monday, May 13th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $9.57 for the year, down from their previous estimate of $9.60.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Friday, February 22nd. The financial services provider reported C$2.19 earnings per share for the quarter, hitting analysts’ consensus estimates of C$2.19. The firm had revenue of C$11.59 billion for the quarter, compared to analyst estimates of C$10.93 billion.

A number of other equities research analysts also recently weighed in on the company. CSFB set a C$109.00 target price on Royal Bank of Canada and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity decreased their target price on Royal Bank of Canada from C$108.00 to C$105.00 in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of C$110.20.

RY stock opened at C$105.12 on Thursday. Royal Bank of Canada has a twelve month low of C$90.10 and a twelve month high of C$107.91. The stock has a market cap of $150.88 billion and a P/E ratio of 12.37.

In other Royal Bank of Canada news, Senior Officer Helena Gottschling sold 882 shares of Royal Bank of Canada stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of C$107.00, for a total transaction of C$94,377.97. Following the sale, the insider now directly owns 1,415 shares of the company’s stock, valued at C$151,411.37. Also, Senior Officer Alex Douglas Mcgregor sold 11,736 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of C$102.36, for a total value of C$1,201,291.09. Following the sale, the insider now directly owns 56,175 shares in the company, valued at C$5,750,044.91. Insiders have sold 38,895 shares of company stock worth $4,015,255 over the last ninety days.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s payout ratio is 45.17%.

Royal Bank of Canada Company Profile

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 (TSE:RY)

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