The Royal Bank Of Canada (RY) Upgraded to Buy by Canaccord Genuity

The Royal Bank Of Canada (RY) Upgraded to Buy by Canaccord Genuity

Canaccord Genuity upgraded shares of Royal Bank Of Canada (NYSE:RY) from a hold rating to a buy rating in a report released on Thursday.

A number of other analysts have also recently issued reports on the company. Dundee Securities started coverage on Royal Bank Of Canada in a research note on Wednesday, September 21st. They set a neutral rating for the company. Citigroup Inc. raised their price target on shares of Royal Bank Of Canada from $89.00 to $95.00 and gave the stock a buy rating in a research note on Wednesday, September 14th. Credit Suisse Group AG reaffirmed a buy rating on shares of Royal Bank Of Canada in a research note on Sunday, September 11th. TD Securities reaffirmed a hold rating and set a $86.00 price target (up from $81.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Finally, Scotiabank reaffirmed an outperform rating and set a $86.00 price target (up from $85.00) on shares of Royal Bank Of Canada in a research note on Friday, August 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $83.70.

Shares of Royal Bank Of Canada (NYSE:RY) traded up 0.2783% during mid-day trading on Thursday, hitting $62.7943. 419,068 shares of the stock were exchanged. The firm has a 50-day moving average price of $62.01 and a 200 day moving average price of $60.76. The company has a market capitalization of $93.17 billion, a PE ratio of 12.0944 and a beta of 1.14. Royal Bank Of Canada has a 12-month low of $44.37 and a 12-month high of $64.13.

Royal Bank Of Canada (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.39. The business had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $7.27 billion. Royal Bank Of Canada had a net margin of 22.91% and a return on equity of 16.36%. During the same period last year, the company posted $1.66 EPS. On average, equities research analysts expect that Royal Bank Of Canada will post $5.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be issued a dividend of $0.6449 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, October 24th. This represents a $2.58 annualized dividend and a yield of 4.12%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 50.20%.

Large investors have recently made changes to their positions in the stock. Lombard Odier & Cie Canada Limited Partnership increased its stake in shares of Royal Bank Of Canada by 2.3% in the first quarter. Lombard Odier & Cie Canada Limited Partnership now owns 36,180 shares of the company’s stock valued at $2,092,000 after buying an additional 800 shares in the last quarter. Natixis increased its stake in shares of Royal Bank Of Canada by 5.8% in the first quarter. Natixis now owns 67,939 shares of the company’s stock valued at $3,929,000 after buying an additional 3,707 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Royal Bank Of Canada by 1.8% in the first quarter. Legal & General Group Plc now owns 6,629,849 shares of the company’s stock valued at $383,576,000 after buying an additional 120,297 shares in the last quarter. Prudential PLC acquired a new stake in shares of Royal Bank Of Canada during the first quarter valued at about $363,000. Finally, Fairfield Bush & CO. increased its stake in shares of Royal Bank Of Canada by 23.3% in the first quarter. Fairfield Bush & CO. now owns 115,877 shares of the company’s stock valued at $6,670,000 after buying an additional 21,865 shares in the last quarter. 45.07% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Company Profile

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