In yesterday’s Wall Street session, Royal Bank of Canada (NYSE:RY) shares traded at $98.71, down -1.57% from the previous session.
7 analysts cover Royal Bank of Canada (NYSE:RY), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $96.00 and a low of $96.00, we find $96.00. Given the previous closing price of $100.28, this indicates a potential downside of -4.27 percent. RY stock price is now 4.46% away from the 50-day moving average and 2.42% away from the 200-day moving average. The market capitalization of the company currently stands at $136.68B.
The stock has received a hold rating from 3 analysts and a buy rating from 4. Brokers who have rated the stock have averaged $96.00 as their price target over the next twelve months.
With the price target maintained at $4, CIBC recently Downgraded its rating from Sector Outperform to Neutral for Royal Bank of Canada (NYSE: RY).
A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RY stock. In total, there are 1,067 active investors with 52.30% ownership of the company’s stock.
During the past 12 months, Royal Bank of Canada has had a low of $83.63 and a high of $104.72. The fifty day moving average price for RY is $94.54 and a two-hundred day moving average price translates $96.40 for the stock.
The latest earnings results from Royal Bank of Canada (NYSE: RY) was released for Apr, 2023. According to the Banks – Diversified Company, earnings per share came in at $2, missing analysts’ expectations of $2.1 by -0.1. This compares to $2.34 EPS in the same period last year. The net profit margin was 21.60% and return on equity was 14.00% for RY. The company reported revenue of $14.98 billion for the quarter, compared to $6.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 144.48 percent. For the current quarter, analysts expect RY to generate $10.2B in revenue.
In terms of dividend payout ratio, RY is presently at 67.60%.
Royal Bank of Canada(RY) Company Profile
Royal Bank of Canada operates as a diversified financial service company worldwide. The company’s Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses. This segment offers financial products and services through branches, automated teller machines, and mobile sales network. Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company’s Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and business insurance services to individual, business, and group clients through its advice centers, RBC insurance stores, and mobile advisors; digital, mobile, and social platforms; independent brokers; and travel partners. Its Investor & Treasury Services segment provides asset servicing, custody, payments, and treasury services to financial and other investors; and fund and investment administration, shareholder, private capital, performance measurement and compliance monitoring, distribution, transaction banking, cash and liquidity management, foreign exchange, and global securities finance services. The company’s Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, advisory services, sale, and trading services for corporations, institutional investors, asset managers, private equity firms, and governments. The company was founded in 1864 and is headquartered in Toronto, Canada.
