Royal Bank of Canada (TSE:RY) Sets New 1-Year High at $140.77

Royal Bank of Canada (TSE:RY) (NYSE:RY) hit a new 52-week high during trading on Thursday . The stock traded as high as C$140.77 and last traded at C$140.56, with a volume of 484812 shares trading hands. The stock had previously closed at C$139.89.

Analyst Ratings Changes

A number of analysts have recently issued reports on RY shares. CIBC cut their price objective on Royal Bank of Canada from C$140.00 to C$135.00 and set a “neutral” rating for the company in a research report on Friday, March 8th. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from C$140.00 to C$150.00 in a research report on Friday, April 5th. Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Scotiabank lifted their target price on shares of Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$137.65.

Royal Bank of Canada Trading Up 0.8 %

The company has a market cap of C$198.75 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 10.64 and a beta of 0.83. The firm has a 50-day moving average of C$135.39 and a 200 day moving average of C$129.69.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The company had revenue of C$13.49 billion for the quarter, compared to analysts’ expectations of C$13.65 billion. On average, equities analysts predict that Royal Bank of Canada will post 11.3055556 EPS for the current year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a dividend of $1.38 per share. The ex-dividend date is Wednesday, April 24th. This represents a $5.52 dividend on an annualized basis and a yield of 3.92%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.25%.

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.