Royal Bank of Canada (TSE:RY) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

by · The Markets Daily

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$276.04 and traded as high as C$283.53. Royal Bank of Canada shares last traded at C$282.78, with a volume of 3,890,751 shares trading hands.

Wall Street Analysts Forecast Growth

RY has been the subject of several recent analyst reports. National Bank Financial raised their price objective on shares of Royal Bank of Canada from C$318.00 to C$321.00 and gave the stock an “outperform” rating in a research report on Sunday, August 30th. Desjardins set a C$320.00 price objective on shares of Royal Bank of Canada and gave the company a “buy” rating in a report on Wednesday, September 2nd. Barclays raised their target price on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a report on Friday, August 21st. Raymond James Financial boosted their price target on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Royal Bank of Canada from C$316.00 to C$324.00 in a research report on Monday, August 31st. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$292.86.

View Our Latest Research Report on RY

Royal Bank of Canada Price Performance

The stock has a 50-day moving average price of C$283.33 and a 200 day moving average price of C$276.08. The firm has a market cap of C$390.09 billion, a PE ratio of 17.77, a P/E/G ratio of 3.42 and a beta of 0.97.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The firm had revenue of C$18.54 billion during the quarter. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.35 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be given a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.5%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 41.49%.

Insider Transactions at Royal Bank of Canada

In related news, insider Maria Elena Douvas sold 9,604 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of C$275.20, for a total transaction of C$2,643,020.80. Also, insider Kelly Bradley sold 5,142 shares of Royal Bank of Canada stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of C$283.07, for a total value of C$1,455,545.94. Following the completion of the transaction, the insider owned 1,043 shares of the company’s stock, valued at approximately C$295,242.01. The trade was a 83.14% decrease in their ownership of the stock. In the last 90 days, insiders sold 75,908 shares of company stock worth $21,177,587.

Royal Bank of Canada Company Profile

(Get Free Report)

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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