Royal Bank of Canada (NYSE:RY) (TSE:RY) announced its earnings results on Wednesday. The financial services provider reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.01), MarketWatch Earnings reports. Royal Bank of Canada had a return on equity of 17.76% and a net margin of 21.75%. During the same quarter last year, the business earned $1.85 EPS.
Royal Bank of Canada stock opened at $78.96 on Wednesday. The company has a market capitalization of $113.47 billion, a PE ratio of 13.03, a P/E/G ratio of 1.67 and a beta of 1.13. Royal Bank of Canada has a twelve month low of $72.84 and a twelve month high of $87.10. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Thursday, July 26th will be paid a $0.7296 dividend. This represents a $2.92 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, July 25th. Royal Bank of Canada’s payout ratio is presently 47.19%.
A number of research firms recently weighed in on RY. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Macquarie raised shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Friday, June 8th. ValuEngine downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, National Bank Financial raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, June 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $97.20.
About Royal Bank of Canada
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
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