What is Cormark's Forecast for RY Q2 Earnings?
Several other brokerages have also weighed in on RY. Scotiabank assumed coverage on Royal Bank of Canada in a research report on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. CIBC reissued an “outperform” rating on shares of Royal Bank of Canada in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.50.
NYSE:RY opened at $128.21 on Friday. The firm has a market capitalization of $181.33 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.80 and a beta of 0.89. The business has a 50 day simple moving average of $117.54 and a 200 day simple moving average of $119.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 12-month low of $102.44 and a 12-month high of $128.73.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Park Square Financial Group LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at about $25,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 4th quarter worth approximately $29,000. Sunbelt Securities Inc. boosted its holdings in shares of Royal Bank of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Bank of Canada during the first quarter valued at approximately $32,000. 45.31% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th were issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.18%.
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.
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