Royal Bank of Canada (NYSE:RY) traded with an addition of $1.11 to $89.97 on Thursday, an upside of 1.25 percent. An average of 846,113 shares of common stock have been traded in the last five days. There was a fall of -$0.44 in the past week, and it reached a new high 16 times over the past 12 months. The last 20 days have seen an average of 932,773 shares traded, while the 50-day average volume stands at 928,283.
RY stock has decreased by -8.74% in the last month. The company shares reached their 1-month lowest point of $88.14 on 08/23/23. With the stock rallying to its 52-week high on 02/09/23, shares of the company touched a low of $83.63 and a high of $104.72 in 52 weeks. It has reached a new high 17 times so far this year and lost -4.31% or -$3.98 in price. In spite of this, the price is down -14.09% from the 52-week high.
Valuation Metrics
Royal Bank of Canada (RY) has a trailing price-to-earnings (P/E) ratio of 12.04. The stock’s beta is 0.83. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.61, the price-to-book (PB) ratio at 1.63, and the price-to-cash flow ratio at 4.58.
The company has a payout ratio of 69.50%. The company’s most recent quarterly dividend payment was $0.9960 a share, representing a up of 0.4% from $0.9920 last year. Its latest increase dividend $0.0040 reported on Thursday May 25 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.11 and a total debt to equity ratio of 3.26 for the quarter ending April 29. Its gross profit as reported stood at $17.65 billion compared to revenue of $31.67 billion.
Earnings Surprise
The analyst consensus anticipated Royal Bank of Canada’s latest quarter earnings to come in at $2.1 per share, but it turned out to be $2, a -4.80% surprise. At the end of the quarter ending April 29, Royal Bank of Canada’s stock balance sheet showed total debt was $427.02 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Royal Bank of Canada (RY) price momentum. RSI 9-day as of the close on 23 August was 32.35%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.13%.
As of today, RY’s price is $89.29 -0.49% or -$0.44 from its 5-day moving average. RY is currently trading -8.42% lower than its 20-day SMA and -5.80% lower than its 100-day SMA. However, the stock’s current price level is -3.98% below the SMA50 and -4.67% below the SMA200.
The stochastic %K and %D were 10.43% and 5.51%, respectively, and the average true range (ATR) was 1.42. With the 14-day stochastic at 22.53% and the average true range at 1.38, the RSI (14) stands at 33.11%. The stock has reached -1.41 on the 9-day MACD Oscillator while the 14-day reading was at -3.12.
Analyst Ratings
CIBC downgraded Royal Bank of Canada (NYSE: RY) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sector outperform. The consensus rating for Royal Bank of Canada (RY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RY, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is RY’s price target for the next 12 months?
Analysts predict a range of price targets between $96.00 and $103.36, with a median target of $99.68. Taking a look at these predictions, the average price target given by analysts for Royal Bank of Canada (RY) stock is $99.68.
