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Brokers Issue Forecasts for Royal Bank of Canada’s FY2022 Earnings (NYSE:RY)


Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) – Stock analysts at National Bank Financial reduced their FY2022 earnings per share (EPS) estimates for shares of Royal Bank of Canada in a report issued on Sunday, May 15th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will post earnings per share of $8.34 for the year, down from their prior forecast of $8.53.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last announced its quarterly earnings data on Thursday, February 24th. The financial services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.13. Royal Bank of Canada had a net margin of 28.16% and a return on equity of 18.28%. The company had revenue of $10.37 billion during the quarter.

A number of other brokerages have also recently issued reports on RY. Zacks Investment Research cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Scotiabank cut their price objective on shares of Royal Bank of Canada from C$163.00 to C$150.00 in a research note on Wednesday, April 13th. Stifel Nicolaus cut their price objective on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. StockNews.com initiated coverage on shares of Royal Bank of Canada in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of $143.34.

Shares of Royal Bank of Canada stock opened at $98.77 on Tuesday. Royal Bank of Canada has a 52-week low of $95.02 and a 52-week high of $119.41. The stock has a market capitalization of $139.02 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.10 and a beta of 0.90. The company has a fifty day moving average of $107.03 and a 200-day moving average of $107.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Power Corp of Canada bought a new position in shares of Royal Bank of Canada in the 1st quarter worth about $438,000. PDT Partners LLC bought a new position in shares of Royal Bank of Canada in the 1st quarter worth about $254,000. Captrust Financial Advisors increased its stake in shares of Royal Bank of Canada by 23.2% in the 1st quarter. Captrust Financial Advisors now owns 64,843 shares of the financial services provider’s stock worth $7,150,000 after acquiring an additional 12,204 shares in the last quarter. Brinker Capital Investments LLC increased its stake in shares of Royal Bank of Canada by 8.8% in the 1st quarter. Brinker Capital Investments LLC now owns 11,543 shares of the financial services provider’s stock worth $1,273,000 after acquiring an additional 935 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Royal Bank of Canada by 265.8% in the 1st quarter. Wellington Management Group LLP now owns 19,835,260 shares of the financial services provider’s stock worth $2,185,770,000 after acquiring an additional 14,412,851 shares in the last quarter. Institutional investors and hedge funds own 41.50% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 24th. Shareholders of record on Monday, April 25th will be issued a $0.944 dividend. The ex-dividend date is Friday, April 22nd. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.78 annualized dividend and a yield of 3.82%. Royal Bank of Canada’s dividend payout ratio is 42.71%.

About Royal Bank of Canada (Get Rating)

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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Earnings History and Estimates for Royal Bank of Canada (NYSE:RY)



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