Royal Bank of Canada (RY) Price Target Raised to C$111.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by Desjardins from C$108.00 to C$111.00 in a research note released on Tuesday morning, BayStreet.CA reports. Desjardins also issued estimates for Royal Bank of Canada’s Q2 2019 earnings at $2.18 EPS, FY2019 earnings at $8.89 EPS and FY2020 earnings at $9.57 EPS.

TSE:RY opened at C$105.12 on Tuesday. Royal Bank of Canada has a 1 year low of C$90.10 and a 1 year high of C$107.91. The firm has a market capitalization of $150.88 billion and a PE ratio of 12.37.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Friday, February 22nd. The financial services provider reported C$2.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of C$2.19. The business had revenue of C$11.59 billion during the quarter, compared to the consensus estimate of C$10.93 billion. On average, research analysts expect that Royal Bank of Canada will post 9.61999942495645 EPS for the current year.

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

In related news, Senior Officer Alex Douglas Mcgregor sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of C$102.01, for a total transaction of C$153,015.00. Following the completion of the transaction, the insider now owns 54,675 shares of the company’s stock, valued at C$5,577,396.75. Also, Director David Ian Mckay sold 8,259 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of C$101.65, for a total value of C$839,492.66. Following the transaction, the director now directly owns 5,873 shares of the company’s stock, valued at approximately C$596,965.78. Insiders have sold 38,895 shares of company stock valued at $4,015,255 in the last ninety days.

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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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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