Royal Bank of Canada (NYSE:RY) Releases Earnings Results, Misses Expectations By $0.04 EPS

Royal Bank of Canada (NYSE:RY) (TSE:RY) announced its quarterly earnings results on Wednesday. The financial services provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.73 by ($0.04), Morningstar.com reports. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. The company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the prior year, the business earned $2.10 earnings per share. Royal Bank of Canada’s revenue was up 4.7% compared to the same quarter last year.

Royal Bank of Canada stock traded down $0.11 during midday trading on Thursday, hitting $74.94. 205,933 shares of the company’s stock were exchanged, compared to its average volume of 862,587. Royal Bank of Canada has a 12-month low of $65.76 and a 12-month high of $81.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $108.08 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09. The firm’s 50 day simple moving average is $78.31 and its 200 day simple moving average is $77.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be given a dividend of $0.796 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 47.78%.

Institutional investors have recently modified their holdings of the business. Coastal Capital Group Inc. purchased a new stake in shares of Royal Bank of Canada in the second quarter valued at about $28,000. Resources Investment Advisors Inc. purchased a new stake in shares of Royal Bank of Canada in the first quarter valued at about $30,000. Meridian Wealth Management LLC purchased a new stake in shares of Royal Bank of Canada in the first quarter valued at about $30,000. CWM LLC boosted its holdings in shares of Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 190 shares in the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new stake in shares of Royal Bank of Canada in the second quarter valued at about $32,000. 41.47% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on RY shares. Desjardins reiterated a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research note on Thursday, May 16th. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $100.00.

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 for Royal Bank of Canada (NYSE:RY)

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