National Bank Financial Trims Royal Bank of Canada (RY) Target Price to C$110.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lowered by National Bank Financial from C$111.00 to C$110.00 in a report issued on Thursday. National Bank Financial currently has an outperform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Royal Bank of Canada’s Q1 2019 earnings at $2.14 EPS, Q2 2019 earnings at $2.14 EPS, FY2019 earnings at $8.98 EPS and FY2020 earnings at $9.59 EPS.

A number of other analysts also recently issued reports on RY. Barclays raised their target price on Royal Bank of Canada from C$99.00 to C$100.00 in a research report on Thursday. Canaccord Genuity decreased their target price on Royal Bank of Canada from C$111.00 to C$102.00 in a research report on Thursday, November 22nd. Eight Capital raised their target price on Royal Bank of Canada from C$119.00 to C$122.00 in a research report on Thursday, August 23rd. BMO Capital Markets raised their target price on Royal Bank of Canada from C$106.00 to C$110.00 and gave the stock a market perform rating in a research report on Thursday, August 23rd. Finally, CIBC raised their target price on Royal Bank of Canada from C$109.00 to C$110.00 in a research report on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of C$110.89.

Shares of RY opened at C$97.42 on Thursday. Royal Bank of Canada has a 12 month low of C$93.13 and a 12 month high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, November 28th. The financial services provider reported C$2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.12 by C$0.12. The firm had revenue of C$10.67 billion during the quarter, compared to analysts’ expectations of C$11.13 billion. On average, research analysts predict that Royal Bank of Canada will post 9.58902027764037 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Thursday, January 24th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, January 23rd. Royal Bank of Canada’s payout ratio is currently 45.97%.

In other news, insider Helena Gottschling sold 1,079 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of C$95.81, for a total value of C$103,378.99. Also, Director David Ian Mckay sold 10,280 shares of the firm’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of C$95.83, for a total value of C$985,132.40. Over the last ninety days, insiders bought 900 shares of company stock valued at $69,849 and sold 44,081 shares valued at $4,421,560.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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