Q2 2019 EPS Estimates for Royal Bank of Canada Decreased by Desjardins (RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Equities research analysts at Desjardins decreased their Q2 2019 earnings per share (EPS) estimates for Royal Bank of Canada in a note issued to investors on Monday, May 13th. Desjardins analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.62 for the quarter, down from their previous forecast of $1.68. Desjardins also issued estimates for Royal Bank of Canada’s FY2020 earnings at $7.10 EPS.

Several other research firms have also commented on RY. Zacks Investment Research lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Scotiabank reaffirmed an “average” rating and issued a $111.00 price target on shares of Royal Bank of Canada in a report on Friday, February 22nd. Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Royal Bank of Canada presently has an average rating of “Buy” and a consensus price target of $95.33.

NYSE:RY opened at $77.95 on Thursday. Royal Bank of Canada has a one year low of $65.76 and a one year high of $81.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $110.99 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Friday, February 22nd. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Royal Bank of Canada had a net margin of 20.85% and a return on equity of 17.52%. The business had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the previous year, the company posted $2.01 earnings per share.

Several institutional investors have recently modified their holdings of the business. Brinker Capital Inc. grew its stake in shares of Royal Bank of Canada by 1.9% in the 1st quarter. Brinker Capital Inc. now owns 7,061 shares of the financial services provider’s stock valued at $533,000 after buying an additional 129 shares during the period. Sowell Financial Services LLC grew its stake in shares of Royal Bank of Canada by 1.2% in the 4th quarter. Sowell Financial Services LLC now owns 11,608 shares of the financial services provider’s stock valued at $795,000 after buying an additional 134 shares during the period. Cardinal Capital Management grew its stake in shares of Royal Bank of Canada by 0.3% in the 1st quarter. Cardinal Capital Management now owns 39,436 shares of the financial services provider’s stock valued at $2,979,000 after buying an additional 134 shares during the period. Cetera Advisor Networks LLC grew its stake in shares of Royal Bank of Canada by 1.5% in the 1st quarter. Cetera Advisor Networks LLC now owns 9,425 shares of the financial services provider’s stock valued at $712,000 after buying an additional 137 shares during the period. Finally, CAPROCK Group Inc. grew its stake in shares of Royal Bank of Canada by 3.5% in the 4th quarter. CAPROCK Group Inc. now owns 4,396 shares of the financial services provider’s stock valued at $301,000 after buying an additional 148 shares during the period. Institutional investors and hedge funds own 42.23% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be given a $0.7704 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.95%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.75. Royal Bank of Canada’s dividend payout ratio is 46.86%.

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 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 (NYSE:RY)

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