Royal Bank of Canada (TSE:RY) Reaches New 12-Month High at $135.65

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$135.65 and last traded at C$135.55, with a volume of 797379 shares traded. The stock had previously closed at C$134.87.

Analyst Ratings Changes

A number of brokerages have recently commented on RY. Scotiabank upped their price target on Royal Bank of Canada from C$140.00 to C$143.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. National Bankshares upped their price target on Royal Bank of Canada from C$135.00 to C$148.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Bank of America upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$130.00 to C$146.00 in a report on Monday, December 18th. Keefe, Bruyette & Woods dropped their target price on shares of Royal Bank of Canada from C$127.00 to C$125.00 and set a “market perform” rating on the stock in a report on Thursday, November 23rd. Finally, Desjardins raised their target price on shares of Royal Bank of Canada from C$136.00 to C$142.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$137.03.

Check Out Our Latest Analysis on RY

Royal Bank of Canada Stock Up 0.4 %

The company has a market capitalization of C$191.00 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 10.64 and a beta of 0.84. The business’s 50-day moving average price is C$132.47 and its 200 day moving average price is C$124.75.

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) last announced its earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.79 by C$0.06. The business had revenue of C$13.49 billion during the quarter, compared to analyst estimates of C$13.65 billion. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. Analysts anticipate that Royal Bank of Canada will post 11.3350515 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 51.25%.

About Royal Bank of Canada

(Get Free Report)

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.

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