Royal Bank of Canada (RY) Set to Announce Quarterly Earnings on Wednesday

Royal Bank of Canada (TSE:RY) (NYSE:RY) is scheduled to release its earnings data before the market opens on Wednesday, December 4th. Analysts expect Royal Bank of Canada to post earnings of C$2.99 per share for the quarter.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%.

Royal Bank of Canada Stock Performance

Shares of TSE:RY opened at C$174.66 on Wednesday. The business’s 50 day simple moving average is C$170.24 and its two-hundred day simple moving average is C$157.25. The firm has a market cap of C$246.27 billion, a P/E ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$115.57 and a 52-week high of C$175.59.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were issued a $1.42 dividend. The ex-dividend date was Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.25%. Royal Bank of Canada’s payout ratio is currently 50.31%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,174.03. This represents a 99.67 % decrease in their ownership of the stock. Over the last three months, insiders sold 144,770 shares of company stock valued at $23,959,265.

Analysts Set New Price Targets

Several research analysts have issued reports on RY shares. BMO Capital Markets increased their price target on Royal Bank of Canada from C$165.00 to C$195.00 in a report on Monday, November 18th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. CIBC raised their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday. Canaccord Genuity Group raised their target price on Royal Bank of Canada from C$172.00 to C$188.00 in a report on Tuesday, November 19th. Finally, Cormark raised their target price on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$175.92.

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 checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.