The trading price of Royal Bank of Canada (NYSE:RY) closed higher on Tuesday, July 20, closing at $99.41, 0.85% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $98.03 and $99.70. The company’s P/E ratio in the trailing 12-month period was 12.72, while its 5Y monthly beta was 0.79. In examining the 52-week price action we see that the stock hit a 52-week high of $104.92 and a 52-week low of $67.78. Over the past month, the stock has lost -1.83% in value.
Royal Bank of Canada, whose market valuation is $144.96 billion at the time of this writing, is expected to release its quarterly earnings report Aug 24, 2021 – Aug 30, 2021. The dividend yield on the company stock is 3.60%, while its Forward Dividend ratio is 3.58. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $1.61 per share this quarter, however they have predicted annual earnings per share of $6.52 for 2018 and $6.94 for 2019. It means analysts are expecting annual earnings per share growth of 9.40% this year and 6.40% next year.
Analysts have forecast the company to bring in revenue of $8.05 billion for the current quarter, with the likely lows of $7.68 billion and highs of $8.41 billion. The average estimate suggests sales will likely down by -0.80% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2018 is $32.77 billion. The company’s revenue is forecast to grow by 2.40% over what it did in 2018.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Royal Bank of Canada 5 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest RY has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned RY a recommendation rating is 4. Out of them, 2 rate it a Hold, while 1 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Royal Bank of Canada (RY) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 1.22, which symbolizes a positive outlook. A quick review shows that RY’s price is currently -2.21% off the SMA20 and -2.67% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.72, and weekly volatility stands at 1.37%. When measured over the past 30 days, the indicator reaches 1.11%. Royal Bank of Canada (NYSE:RY)’s beta value is currently sitting at 0.96, while the Average True Range indicator is currently displaying 1.34. With analysts defining $111.00-$111.00 as the low and high price targets, we arrive at a consensus price target of $111.00 for the trailing 12-month period. The current price is about -11.66% off the estimated low and -11.66% off the forecast high, based on this estimate. Investors will be thrilled if RY’s share price rises to $111.00, which is the median consensus price. At that level, RY’s share price would be -11.66% below current price.
To see how Royal Bank of Canada stock has been performing in comparison to its peers in the industry, here are the numbers: RY stock’s performance was 0.85% in the latest trading, and 41.77% in the past year, while Bank of America Corporation (BAC) has traded 2.06% on the day and positioned 59.84% higher than it was a year ago. Another comparable company The Toronto-Dominion Bank (TD) saw its stock close 1.22% higher in the most recent trading session but was up 42.58% in a year. Royal Bank of Canada has a P/E ratio of 12.72, compared to Bank of America Corporation’s 12.61 and The Toronto-Dominion Bank’s 10.53. Also in last trading session, the S&P 500 Index has surged 1.52%, while the Dow Jones Industrial also saw a positive session, up 1.62% on the day.
An evaluation of the daily trading volume of Royal Bank of Canada (NYSE:RY) indicates that the 3-month average is 1.09 million.
Currently, records show that 1.42 billion of the company’s shares remain outstanding. The insiders hold 0.10% of outstanding shares, whereas institutions hold 52.30%. However, since the stock’s price has seen 21.14% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.