Brokers Set Expectations for TSE:RY Q4 Earnings

Royal Bank of Canada (TSE:RY) (NYSE:RY) – Equities research analysts at Cormark issued their Q4 2024 earnings estimates for shares of Royal Bank of Canada in a report issued on Monday, November 25th. Cormark analyst L. Persaud forecasts that the financial services provider will post earnings of $3.02 per share for the quarter. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $12.35 per share.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. The business had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion.

Several other research analysts have also commented on the stock. National Bankshares lifted their price target on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a report on Wednesday, November 20th. Bank of America lifted their price objective on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, CIBC lifted their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$175.92.

Royal Bank of Canada Stock Performance

TSE RY opened at C$174.66 on Wednesday. Royal Bank of Canada has a one year low of C$115.57 and a one year high of C$175.59. The company has a 50-day simple moving average of C$170.24 and a 200-day simple moving average of C$157.25. The firm has a market capitalization of C$246.27 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Insiders Place Their Bets

In related news, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the completion of the sale, the insider now owns 25 shares in the company, valued at C$4,115. The trade was a 99.75 % decrease in their ownership of the stock. In the last three months, insiders have sold 144,770 shares of company stock worth $23,959,265.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were given a dividend of $1.42 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.25%. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Royal Bank of Canada 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.