As of Friday close, Royal Bank of Canada’s (NYSE:RY) stock was down -$0.77, moving down -0.85 percent to $89.71. The average number of shares traded per day over the past five days has been 861,380 shares. 1 time new highs have been achieved over the past 5 days, with a -$5.13 fall in that time frame. In the last twenty days, the average volume was 1,006,855, while in the previous 50 days, it was 893,004.
Since last month, RY stock retreated -9.39%. Shares of the company fell to $89.58 on 08/18/23, the lowest level in the past month. A 52-week high of $104.72 was reached on 02/09/23 after having rallying from a 52-week low of $83.63. Since the beginning of this year, RY’s stock price has dropped by -4.58% or -$4.31, and marked a new high 17 times. However, the stock has declined by -14.33% since its 52-week high.
Valuation Metrics
Right now, Royal Bank of Canada (RY) has a P/E ratio of about 11.91. The stock’s beta is 0.83. Besides these, the trailing price-to-sales (P/S) ratio of 2.56, the price-to-book (PB) ratio of 1.61, and the price-to-cash flow ratio of 4.50 may also be considered.
The latest dividend of $0.9960 per share was paid out, which is 0.4% more than last year’s $0.9920. On Thursday May 25 2023, a $0.0040 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending April 29 was 0.11, and the total debt-to-equity ratio was 3.26. In the year ended April 29, operating margins totaled 34.60%. Based on annual data, RY earned $17.65 billion in gross profit and brought in $31.67 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 4.20%. Return on equity (ROE) for the past 12 months was 14.00%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Royal Bank of Canada to report $2.1 quarterly earnings, the actual figure was $2 per share, beating the consensus estimate by -4.80%.
Technical Picture
This quick technical analysis looks at Royal Bank of Canada’s (RY) price momentum. With a historical volatility rate of 10.06%, the RSI 9-day stood at 13.68% on 18 August.
With respect to its five-day moving average, the current Royal Bank of Canada price is down by -5.41% percent or -$5.13. At present, RY shares trade -9.48% below its 20-day simple moving average and -4.10% percent below its 100-day simple moving average. However, the stock is currently trading approximately -2.51% below its SMA50 and -2.98% below its SMA200.
Stochastic coefficient K was 1.41% and Stochastic coefficient D was 2.25%, while ATR was 1.42. Given the Stochastic reading of 1.46% for the 14-day period, the RSI (14) reading has been calculated as 23.37%. As of today, the MACD Oscillator reading stands at -2.59, while the 14-day reading stands at -3.76.
Analyst Ratings
Royal Bank of Canada downgraded its rating on Royal Bank of Canada (NYSE: RY) to a Neutral in a note to investors on May 16, 2023. The analysts firm previously had a Sector outperform rating on the stock.Royal Bank of Canada (RY) has been rated Overweight by analysts. According to 0 brokerage firms, RY is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Royal Bank of Canada stock as buy, with 4 recommending it as overweight.
With a median target price of $96.00, the current consensus forecast for the stock is $96.00 – $96.00. Based on these forecasts, analysts predict Royal Bank of Canada (RY) will achieve an average price target of $96.00.
