Desjardins Analysts Reduce Earnings Estimates for Royal Bank of Canada (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Desjardins cut their FY2019 earnings per share (EPS) estimates for Royal Bank of Canada in a note issued to investors on Wednesday, November 28th. Desjardins analyst D. Young now anticipates that the financial services provider will earn $9.00 per share for the year, down from their previous estimate of $9.01.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, November 28th. The financial services provider reported C$2.24 earnings per share for the quarter, topping the consensus estimate of C$2.12 by C$0.12. The firm had revenue of C$10.67 billion for the quarter, compared to analysts’ expectations of C$11.13 billion.

Several other equities analysts have also recently weighed in on the stock. Barclays lowered their price objective on shares of Royal Bank of Canada from C$104.00 to C$99.00 in a research report on Friday, November 16th. National Bank Financial lifted their price objective on shares of Royal Bank of Canada from C$109.00 to C$111.00 and gave the stock an “outperform” rating in a research report on Thursday, August 23rd. CIBC lifted their price objective on shares of Royal Bank of Canada from C$109.00 to C$110.00 in a research report on Thursday, August 23rd. BMO Capital Markets lifted their price objective on shares of 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, Eight Capital boosted their price target on shares of Royal Bank of Canada from C$119.00 to C$122.00 in a report on Thursday, August 23rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Royal Bank of Canada presently has an average rating of “Hold” and an average price target of C$110.89.

TSE RY opened at C$97.45 on Monday. Royal Bank of Canada has a twelve month low of C$93.13 and a twelve month high of C$108.52.

In other news, insider Helena Gottschling sold 1,079 shares of the business’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of C$104.05, for a total transaction of C$112,269.95. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of C$98.06, for a total transaction of C$980,600.00. Over the last 90 days, insiders have bought 900 shares of company stock worth $69,849 and have sold 44,081 shares worth $4,369,460.

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 dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, January 23rd. Royal Bank of Canada’s dividend payout ratio is currently 46.84%.

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

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