Royal Bank of Canada to Post Q1 2019 Earnings of $1.67 Per Share, Cormark Forecasts (RY)

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Research analysts at Cormark upped their Q1 2019 earnings estimates for Royal Bank of Canada in a report issued on Thursday, November 29th. Cormark analyst M. Grauman now expects that the financial services provider will post earnings of $1.67 per share for the quarter, up from their previous forecast of $1.64. Cormark also issued estimates for Royal Bank of Canada’s Q2 2019 earnings at $1.68 EPS and FY2020 earnings at $7.31 EPS.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, November 28th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. Royal Bank of Canada had a net margin of 21.60% and a return on equity of 18.09%. The company had revenue of $10.67 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter last year, the business earned $1.88 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on RY. ValuEngine upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday, November 15th. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Wednesday, November 28th. Argus decreased their target price on shares of Royal Bank of Canada to $89.00 and set a “positive” rating on the stock in a research note on Thursday. They noted that the move was a valuation call. Finally, Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $96.00.

NYSE RY opened at $73.26 on Monday. Royal Bank of Canada has a 12 month low of $69.99 and a 12 month high of $87.10. The company has a market cap of $105.57 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.49 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12.

Several institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in shares of Royal Bank of Canada by 40.8% during the third quarter. Advisors Asset Management Inc. now owns 2,659 shares of the financial services provider’s stock valued at $213,000 after buying an additional 771 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Royal Bank of Canada by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 40,432 shares of the financial services provider’s stock valued at $3,044,000 after buying an additional 777 shares during the last quarter. Gradient Investments LLC raised its position in shares of Royal Bank of Canada by 2.6% during the third quarter. Gradient Investments LLC now owns 30,875 shares of the financial services provider’s stock valued at $2,476,000 after buying an additional 796 shares during the last quarter. Chemical Bank raised its position in shares of Royal Bank of Canada by 17.0% during the second quarter. Chemical Bank now owns 5,543 shares of the financial services provider’s stock valued at $417,000 after buying an additional 805 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Royal Bank of Canada by 12.1% during the third quarter. Raymond James Trust N.A. now owns 7,950 shares of the financial services provider’s stock valued at $638,000 after buying an additional 859 shares during the last quarter. Hedge funds and other institutional investors own 40.36% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Thursday, January 24th will be paid a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Wednesday, January 23rd. Royal Bank of Canada’s payout ratio is 46.55%.

About Royal Bank of Canada

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.

Further Reading: How is the S&P 500 index different from the DJIA?

Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit