Cormark Predicts Royal Bank of Canada’s Q4 Earnings (TSE:RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Cormark issued their Q4 2024 EPS estimates for Royal Bank of Canada in a research note issued to investors on Monday, November 25th. Cormark analyst L. Persaud expects that the financial services provider will post earnings of $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

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

Other research analysts also recently issued reports about the company. Scotiabank upped their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. BMO Capital Markets lifted their price objective on shares of Royal Bank of Canada from C$165.00 to C$195.00 in a research report on Monday, November 18th. CIBC upped their target price on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday. Finally, Bank of America lifted their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$175.92.

Royal Bank of Canada Trading Up 0.0 %

Shares of Royal Bank of Canada stock opened at C$175.80 on Wednesday. The stock has a market capitalization of C$247.88 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a twelve month low of C$117.33 and a twelve month high of C$176.27. The business’s 50 day simple moving average is C$170.60 and its 200-day simple moving average is C$157.75.

Insider Activity

In other news, Senior Officer Douglas Antony Guzman sold 15,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at approximately C$4,125. This represents a 99.83 % decrease in their position. Also, 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. In the last ninety days, insiders have sold 144,770 shares of company stock worth $23,959,265.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

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.