Brokers Issue Forecasts for Royal Bank of Canada’s Q3 2019 Earnings (NYSE:RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Desjardins raised their Q3 2019 EPS estimates for shares of Royal Bank of Canada in a research report issued on Tuesday, August 6th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings of $1.71 per share for the quarter, up from their previous estimate of $1.67. Desjardins currently has a “Buy” rating and a $111.00 target price on the stock. Desjardins also issued estimates for Royal Bank of Canada’s Q4 2019 earnings at $1.78 EPS and FY2020 earnings at $7.19 EPS.

Other equities analysts also recently issued reports about the stock. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. BMO Capital Markets reissued a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $100.00.

NYSE:RY opened at $76.50 on Friday. The stock has a 50-day simple moving average of $79.30. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $109.73 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.98 and a beta of 1.09. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.04. The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $7.60 billion. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. During the same period last year, the firm posted $2.06 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a dividend of $0.7596 per share. This represents a $3.04 annualized dividend and a yield of 3.97%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is currently 47.78%.

A number of institutional investors have recently added to or reduced their stakes in RY. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Royal Bank of Canada during the first quarter worth about $332,201,000. Toronto Dominion Bank increased its position in Royal Bank of Canada by 10.4% during the first quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock worth $1,481,311,000 after purchasing an additional 1,853,129 shares during the last quarter. JPMorgan Chase & Co. increased its position in Royal Bank of Canada by 40.7% during the second quarter. JPMorgan Chase & Co. now owns 4,383,438 shares of the financial services provider’s stock worth $346,246,000 after purchasing an additional 1,267,015 shares during the last quarter. State of Tennessee Treasury Department acquired a new stake in Royal Bank of Canada during the first quarter worth about $86,128,000. Finally, TD Asset Management Inc. increased its position in Royal Bank of Canada by 1.3% during the first quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock worth $2,829,072,000 after purchasing an additional 491,062 shares during the last quarter. Hedge funds and other institutional investors own 41.54% of the company’s stock.

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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