Royal Bank of Canada's quarterly earnings beat market forecasts

Reuters
Reuters
Author

28 May, 2017

11/01/2016 - Bank of America Merrill Lynch began new coverage on Royal Bank Of Canada giving the company a " rating. For the past 5 days of trading, the stock has seen a move of 1.18%. Raymond James Financial Services Advisors Inc. now owns 165,958 shares of the financial services provider's stock worth $12,070,000 after buying an additional 22,375 shares during the last quarter. It has underperformed by 0.41% the S&P500.

1832 Asset Management Lp decreased its stake in Royal Bk Cda Montreal Que (RY) by 2.43% based on its latest 2016Q4 regulatory filing with the SEC. About 699,707 shares traded. The Manufacturers Life Insurance Company acquired a new stake in shares of Royal Bank of Canada during the third quarter worth about $587,312,000. The stock increased 1.42% or $0.87 during the last trading session, reaching $62.3. About 164,535 shares traded. Gulf International Bank UK Ltd raised its stake in shares of Royal Bank of Canada by 2.0% in the first quarter. Analysts expect that Royal Bank of Canada will post $5.46 earnings per share for the current year.

Royal Bank of Canada (RBC), is a diversified financial services company. They now have a Dollars 72 price target on the stock. The stock has "Buy" rating by Argus Research on Thursday, August 25. Royal Bank of Canada presently has a consensus rating of "Hold" and a consensus target price of $85.63. Zacks Investment Research raised Royal Bank of Canada from a "hold" rating to a "buy" rating and set a $83.00 price objective for the company in a report on Wednesday, February 15th. Keefe, Bruyette & Woods raised shares of Royal Bank of Canada from an underperform rating to a market perform rating in a research report on Monday, February 27th. Finally, TheStreet downgraded Royal Bank of Canada from a "b-" rating to a "c+" rating in a report on Tuesday, March 21st. The rating was downgraded by Rafferty on Thursday, December 1 to "Hold". TD Securities lowered Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Monday, April 3rd. On Monday, August 15 the stock rating was maintained by Citigroup with "Buy". The financial services provider reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.34 by $0.06. Hsbc Holdings PLC boosted its stake in shares of Royal Bank of Canada by 1.9% in the third quarter.

1832 Asset Management Lp, which manages about $36.47 billion and $26.67 billion US Long portfolio, upped its stake in Cdn Imperial Bk Comm Toronto (NYSE:CM) by 47,587 shares to 8.54 million shares, valued at $653.99 million in 2016Q4, according to the filing.

Among 25 analysts covering Nordstrom Inc. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Nordstrom Inc. had 72 analyst reports since August 14, 2015 according to SRatingsIntel. As per Tuesday, June 14, the company rating was maintained by Jefferies. The company was initiated on Tuesday, December 20 by Deutsche Bank. The firm has "Buy" rating given on Thursday, August 25 by Argus Research. The rating was upgraded by TD Securities to "Buy" on Monday, November 21.

Investors sentiment increased to 1.21 in 2016 Q4. Its down 0.09, from 0.9 in 2016Q3. It is positive, as 39 investors sold ZTS shares while 209 reduced holdings. 80 funds opened positions while 127 raised stakes. (NYSE:JWN) for 161,842 shares. Macquarie Gp reported 0.01% in Zoetis Inc (NYSE:ZTS). (NYSE:JWN). Moreover, Blackrock Institutional Na has 0.03% invested in Nordstrom, Inc.

Series BF Dividend No. 9 of $0.225 per share.

More important recent Nordstrom, Inc. More interesting news about Royal Bank of Canada (NYSE:RY) were released by: Marketwatch.com and their article: "Royal Bank of Canada's earnings top estimates" published on May 25, 2017 as well as Seekingalpha.com's news article titled: "Royal Bank of Canada's (RY) CEO David McKay on Q2 2017 Results - Earnings Call ..." with publication date: May 25, 2017.

Sell-side analysts have also provided a consensus recommendation of 3.00 on company shares.

Series AD Dividend No. 42 of $0.28125 per share. (NYSE:JWN) shares with value of $1.43M were sold by HERNANDEZ ENRIQUE JR.


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