Royal Bank of Canada Expected to Post Q3 2019 Earnings of $1.71 Per Share (NYSE:RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Desjardins boosted their Q3 2019 earnings per share estimates for Royal Bank of Canada in a note issued to investors on Tuesday, August 6th, Zacks Investment Research reports. Desjardins analyst D. Young now expects that the financial services provider will earn $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.

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

RY has been the topic of a number of other reports. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Zacks Investment Research raised shares of Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 price objective on the stock in a research report on Thursday, August 1st. Finally, BMO Capital Markets reissued a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Royal Bank of Canada presently has a consensus rating of “Buy” and a consensus price target of $100.00.

Shares of NYSE:RY opened at $74.13 on Friday. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $81.56. The company’s 50 day moving average is $78.84 and its two-hundred day moving average is $77.91. 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 company has a market cap of $109.21 billion, a PE ratio of 11.35, a P/E/G ratio of 1.97 and a beta of 1.09.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Global Investments increased its holdings in Royal Bank of Canada by 6.5% during the 2nd quarter. Summit Global Investments now owns 8,625 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 530 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Royal Bank of Canada by 8.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 34,314 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 2,792 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Royal Bank of Canada during the 2nd quarter valued at about $269,000. Voloridge Investment Management LLC increased its holdings in Royal Bank of Canada by 126.8% during the 2nd quarter. Voloridge Investment Management LLC now owns 94,514 shares of the financial services provider’s stock valued at $7,504,000 after acquiring an additional 52,845 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its holdings in Royal Bank of Canada by 99.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 34,551,642 shares of the financial services provider’s stock valued at $2,675,963,000 after acquiring an additional 17,211,756 shares in the last quarter. 41.43% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a $0.7596 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Wednesday, July 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 47.78%.

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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