FY2020 Earnings Forecast for Royal Bank of Canada Issued By Desjardins (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Investment analysts at Desjardins decreased their FY2020 earnings per share estimates for shares of Royal Bank of Canada in a research report issued on Monday, May 13th. Desjardins analyst D. Young now forecasts that the financial services provider will post earnings per share of $9.57 for the year, down from their previous forecast of $9.60.

Separately, Canaccord Genuity cut their price target on Royal Bank of Canada from C$108.00 to C$105.00 in a research note on Wednesday.

Royal Bank of Canada stock opened at C$104.71 on Thursday. Royal Bank of Canada has a one year low of C$90.10 and a one year high of C$107.91. The firm has a market capitalization of $149.47 billion and a price-to-earnings ratio of 12.32.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Friday, February 22nd. The financial services provider reported C$2.19 earnings per share for the quarter, meeting analysts’ consensus estimates of C$2.19. The firm had revenue of C$11.59 billion during the quarter, compared to analysts’ expectations of C$10.93 billion.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.17%.

In related news, Senior Officer Helena Gottschling sold 882 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of C$107.00, for a total value of C$94,377.97. Following the completion of the transaction, the insider now owns 1,415 shares of the company’s stock, valued at approximately C$151,411.37. Also, Senior Officer Alex Douglas Mcgregor sold 11,736 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of C$102.36, for a total transaction of C$1,201,291.09. Following the completion of the transaction, the insider now directly owns 56,175 shares of the company’s stock, valued at approximately C$5,750,044.91. Insiders have sold a total of 38,895 shares of company stock valued at $4,015,255 in the last ninety days.

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 (TSE:RY)

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