• Tue. May 28th, 2024

Q2 2024 EPS Estimates for Royal Bank of Canada Reduced by National Bank Financial (TSE:RY)

Royal Bank of Canada (TSE:RYFree Report) (NYSE:RY) – Investment analysts at National Bank Financial lowered their Q2 2024 EPS estimates for Royal Bank of Canada in a research note issued on Wednesday, February 28th. National Bank Financial analyst G. Dechaine now forecasts that the financial services provider will earn $2.96 per share for the quarter, down from their previous forecast of $2.99. The consensus estimate for Royal Bank of Canada’s current full-year earnings is $11.26 per share. National Bank Financial also issued estimates for Royal Bank of Canada’s Q3 2024 earnings at $3.08 EPS, Q4 2024 earnings at $3.00 EPS and FY2024 earnings at $11.88 EPS.

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) last issued its quarterly earnings data on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share for the quarter, topping the consensus estimate of C$2.79 by C$0.06. The firm had revenue of C$13.49 billion for the quarter, compared to analysts’ expectations of C$13.65 billion. Royal Bank of Canada had a net margin of 27.69% and a return on equity of 13.16%.

Other analysts have also recently issued reports about the stock. National Bankshares upped their price objective on shares of Royal Bank of Canada from C$135.00 to C$148.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 20th. Desjardins upped their price objective on shares of Royal Bank of Canada from C$136.00 to C$142.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Bank of America raised shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their price objective for the stock from C$130.00 to C$146.00 in a research note on Monday, December 18th. Canaccord Genuity Group increased their price target on shares of Royal Bank of Canada from C$142.00 to C$146.00 and gave the company a “buy” rating in a research note on Thursday. Finally, CIBC decreased their price target on shares of Royal Bank of Canada from C$141.00 to C$140.00 and set a “neutral” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Hold” and a consensus price target of C$137.34.

Check Out Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Trading Up 0.1 %

Shares of Royal Bank of Canada stock opened at C$131.94 on Friday. The stock has a market capitalization of C$186.04 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 10.64 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$107.92 and a 1-year high of C$137.78. The firm’s 50-day moving average price is C$132.53 and its two-hundred day moving average price is C$124.23.

Royal Bank of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a $1.38 dividend. The ex-dividend date is Wednesday, April 24th. This represents a $5.52 annualized dividend and a yield of 4.18%. Royal Bank of Canada’s dividend payout ratio is currently 52.57%.

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

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