Q2 2017 Earnings Forecast for Royal Bank of Canada (RY) Issued By Cormark

Royal Bank of Canada (NYSE:RY) (TSE:RY) – Cormark cut their Q2 2017 EPS estimates for Royal Bank of Canada in a research report issued on Tuesday. Cormark analyst M. Grauman now anticipates that the financial services provider will post earnings of $1.36 per share for the quarter, down from their prior estimate of $1.41. Cormark also issued estimates for Royal Bank of Canada’s FY2017 earnings at $5.41 EPS and FY2018 earnings at $5.73 EPS.

Royal Bank of Canada (NYSE:RY) last announced its quarterly earnings data on Friday, February 24th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.06. Royal Bank of Canada had a return on equity of 16.21% and a net margin of 22.15%. The business had revenue of $9.55 billion for the quarter, compared to analysts’ expectations of $7.23 billion. During the same period in the previous year, the business posted $1.58 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year.

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

A number of other research analysts also recently weighed in on the company. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. TheStreet downgraded Royal Bank of Canada from a “b-” rating to a “c+” rating in a research note on Tuesday, March 21st. Finally, Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Monday, February 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.63.

Shares of Royal Bank of Canada (NYSE:RY) opened at 68.81 on Thursday. The company has a 50-day moving average price of $69.99 and a 200-day moving average price of $69.85. The company has a market capitalization of $101.51 billion, a PE ratio of 13.08 and a beta of 1.19. Royal Bank of Canada has a 52 week low of $57.01 and a 52 week high of $76.01.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, April 25th will be paid a dividend of $0.6638 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.62. This represents a $2.66 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, April 21st. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.90%.

Large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Royal Bank of Canada by 1.9% in the first quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock worth $2,342,604,000 after buying an additional 596,315 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Royal Bank of Canada by 4.6% in the first quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock worth $2,309,657,000 after buying an additional 1,402,437 shares during the period. Bank of Nova Scotia raised its stake in shares of Royal Bank of Canada by 0.9% in the first quarter. Bank of Nova Scotia now owns 26,959,386 shares of the financial services provider’s stock worth $1,964,276,000 after buying an additional 235,793 shares during the period. Beutel Goodman & Co Ltd. raised its stake in shares of Royal Bank of Canada by 3.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 18,815,431 shares of the financial services provider’s stock worth $1,368,526,000 after buying an additional 698,500 shares during the period. Finally, Jarislowsky Fraser Ltd raised its stake in shares of Royal Bank of Canada by 0.8% in the fourth quarter. Jarislowsky Fraser Ltd now owns 16,814,046 shares of the financial services provider’s stock worth $1,139,325,000 after buying an additional 128,191 shares during the period. 46.14% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

12 Month Chart for NYSE:RY

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