Royal Bank of Canada (TSE:RY) Stock Crosses Above 200 Day Moving Average – What’s Next?

by · The Markets Daily

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$152.09 and traded as high as C$172.94. Royal Bank of Canada shares last traded at C$172.09, with a volume of 6,831,518 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RY shares. Jefferies Financial Group lowered their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th. TD Securities lifted their price target on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. Desjardins boosted their price objective on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised their price objective on Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Cormark increased their price target on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of C$163.38.

Get Our Latest Research Report on RY

Royal Bank of Canada Trading Down 2.0 %

The company has a market capitalization of C$237.43 billion, a PE ratio of 14.91, a P/E/G ratio of 3.42 and a beta of 0.84. The firm has a 50 day simple moving average of C$166.34 and a two-hundred day simple moving average of C$152.55.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The company had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be given a $1.42 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.37%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 17,000 shares of Royal Bank of Canada stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,198.75. The trade was a 0.00 % decrease in their position. In related news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,198.75. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In the last ninety days, insiders have sold 144,770 shares of company stock worth $23,959,265.

About Royal Bank of Canada

(Get Free Report)

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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