Royal Bank of Canada (RY) Upgraded at ValuEngine

ValuEngine upgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities research analysts have also issued reports on RY. Zacks Investment Research upgraded Royal Bank of Canada from a sell rating to a hold rating in a report on Thursday, November 15th. Barclays reiterated a sell rating on shares of Royal Bank of Canada in a report on Wednesday, November 28th. Argus reduced their price target on Royal Bank of Canada to $89.00 and set a positive rating for the company in a report on Thursday, November 29th. They noted that the move was a valuation call. Canaccord Genuity reiterated a hold rating on shares of Royal Bank of Canada in a report on Thursday, November 22nd. Finally, Howard Weil upgraded Royal Bank of Canada from a sector perform rating to a sector outperform rating in a report on Monday, September 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $96.00.

Shares of NYSE RY opened at $73.74 on Friday. Royal Bank of Canada has a one year low of $69.99 and a one year high of $87.10. The stock has a market cap of $105.57 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, November 28th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.10. The business had revenue of $10.67 billion during the quarter, compared to analyst estimates of $11.14 billion. Royal Bank of Canada had a return on equity of 18.09% and a net margin of 21.60%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.88 EPS. Equities analysts expect that Royal Bank of Canada will post 6.78 EPS for the current year.

The company 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 $0.745 per share. The ex-dividend date of this dividend is Wednesday, January 23rd. This represents a $2.98 annualized dividend and a dividend yield of 4.04%. Royal Bank of Canada’s dividend payout ratio is 46.55%.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Royal Bank of Canada by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 37,561,144 shares of the financial services provider’s stock valued at $3,012,028,000 after acquiring an additional 981,890 shares in the last quarter. FIL Ltd raised its stake in shares of Royal Bank of Canada by 3.0% in the 3rd quarter. FIL Ltd now owns 21,367,285 shares of the financial services provider’s stock valued at $1,712,823,000 after acquiring an additional 627,041 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Royal Bank of Canada by 2.1% in the 3rd quarter. Toronto Dominion Bank now owns 20,298,238 shares of the financial services provider’s stock valued at $1,627,944,000 after acquiring an additional 411,614 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Royal Bank of Canada by 1.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,389,586 shares of the financial services provider’s stock valued at $1,152,636,000 after acquiring an additional 147,284 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Royal Bank of Canada by 0.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 12,819,314 shares of the financial services provider’s stock valued at $968,329,000 after acquiring an additional 45,276 shares in the last quarter. 41.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: What is a Roth IRA?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations 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