Royal Bank of Canada (NYSE:RY) Forecasted to Post Q1 2020 Earnings of $1.73 Per Share

Royal Bank of Canada (NYSE:RY) (TSE:RY) – National Bank Financial boosted their Q1 2020 earnings per share estimates for Royal Bank of Canada in a research note issued on Wednesday, December 4th. National Bank Financial analyst G. Dechaine now expects that the financial services provider will post earnings of $1.73 per share for the quarter, up from their prior forecast of $1.71. National Bank Financial also issued estimates for Royal Bank of Canada’s Q2 2020 earnings at $1.73 EPS, Q3 2020 earnings at $1.76 EPS and FY2021 earnings at $7.39 EPS.

A number of other analysts have also recently commented on the company. Scotiabank restated a “buy” rating on shares of Royal Bank of Canada in a research report on Tuesday, August 20th. Zacks Investment Research cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Desjardins downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a report on Wednesday, August 21st. Finally, ValuEngine lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $107.20.

NYSE RY opened at $79.20 on Friday. The business’s fifty day moving average is $81.55 and its 200 day moving average is $79.01. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $82.58. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market capitalization of $113.31 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.11.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a dividend of $0.7897 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, January 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 48.55%.

A number of institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC purchased a new position in shares of Royal Bank of Canada in the second quarter valued at about $32,000. Aperio Group LLC boosted its stake in Royal Bank of Canada by 6.7% in the 2nd quarter. Aperio Group LLC now owns 864,147 shares of the financial services provider’s stock worth $68,613,000 after purchasing an additional 54,326 shares during the period. Nwam LLC grew its holdings in Royal Bank of Canada by 3.0% during the 3rd quarter. Nwam LLC now owns 5,221 shares of the financial services provider’s stock valued at $424,000 after buying an additional 150 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Royal Bank of Canada by 1.5% during the 2nd quarter. Acadian Asset Management LLC now owns 8,356,061 shares of the financial services provider’s stock valued at $665,483,000 after buying an additional 125,057 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Royal Bank of Canada by 18.4% during the third quarter. Parallel Advisors LLC now owns 3,808 shares of the financial services provider’s stock valued at $309,000 after buying an additional 593 shares during the last quarter. 42.02% of the stock is owned by institutional investors.

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 (NYSE:RY)

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