Economy

Royal Bank Of Canada Q1 Net Income Down, But EPS Rises

Royal Bank Of Canada Q1 Net Income Down, But EPS Rises

Royal Bank of Canada, the nation's largest mortgage lender, isn't hurting from a slowing housing market - yet. Stripping out that one-time increase, RBC's personal and commercial banking division saw net income increase by $141 million or 10 per cent in the latest quarter. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the USA and 36 other countries.

Several equities research analysts recently weighed in on RY shares. The stock has "Sector Perform" rating by RBC Capital Markets on Friday, May 26. Royal Bank of Canada had a return on equity of 17.01% and a net margin of 22.62%. research analysts anticipate that Royal Bank of Canada will post 6.57 EPS for the current fiscal year. Citigroup maintained Royal Bank of Canada (NYSE:RY) rating on Wednesday, September 14. BMO Capital Markets maintained the shares of CWB in report on Wednesday, March 29 with "Market Perform" rating. Canaccord Genuity raised their price objective on shares of Canadian Western Bank from C$30.00 to C$33.00 in a report on Tuesday, October 31st. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $98.20. Dimensional Fund Advisors LP now owns 1,226,386 shares of the financial services provider's stock worth $94,860,000 after buying an additional 8,747 shares in the last quarter. The company's stock had a trading volume of 317,992 shares, compared to its average volume of 841,329. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.90 and a current ratio of 0.90. Royal Bank of Canada (NYSE:RY) has risen 16.29% since February 20, 2017 and is uptrending.

In terms of earnings per share, 11 analysts have a 1.99 EPS mean target for the quarter ending Jan-18, for the quarter ending Apr-18, 7 analysts have a 2.02 EPS mean target and for the quarter ending Apr-18 there are 12 estimates of 8.16 EPS. The institutional investor held 13.35 million shares of the commercial banks company at the end of 2017Q3, valued at $1.01 billion, down from 13.48M at the end of the previous reported quarter. The firm's quarterly revenue was up 12.3% on a year-over-year basis. Stockholders of record on Thursday, January 25th will be paid a dividend of $0.7157 per share.

On 8/23/2017 announced a Quarterly dividend of $0.72 3.9% with an ex dividend date of 10/25/2017 which will be payable on 10/26/2017.

More news: Trump's Former Campaign Manager Faces Further Fraud Charges

Analysts await Royal Bank of Canada (NYSE:RY) to report earnings on February, 23 before the open.

Bank of New York Mellon Corp grew its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.

Clark Capital Management Group Inc increased Spdr S&P 500 Etf Tr (SPY) stake by 117,114 shares to 163,570 valued at $41.09M in 2017Q3. Parametric Portfolio Associates LLC grew its holdings in Royal Bank of Canada by 13.2% in the 3rd quarter. Finally, Holderness Investments Co. purchased a new position in shares of Royal Bank of Canada during the third quarter valued at approximately $203,000. Eight Capital lifted their price objective on Royal Bank of Canada from C$105.00 to C$107.00 in a research report on Thursday, November 30th. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & worldwide trademark & copyright law.


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