Profits of C$2.67 per share anticipated for the third quarter, BFSI News, ET BFSI

Royal Bank of Canada is expected to show an increase in its third-quarter earnings to C$2.67 per share according to the mean Refinitiv estimate from nine analysts. Wall Street expects results to range from C$2.44 to C$2.89 per share.

The consensus recommendation for the company is “Buy”. This includes three “Strong Buy”, nine “Buy”, three “Hold”. The average consensus recommendation for the bank’s peer group is also “Buy”.

FORECAST CHANGES

Twelve analysts are currently providing Refinitiv with estimates. In the last week, there have been no earnings estimate revisions by analysts covering the company. There were no changes to the number of estimates. In the last four weeks, the earnings per share estimate has risen by 7.37 per cent from C$2.48. Estimates ranged from a high of C$2.75. There has been no change to the number of estimates.

The StarMine predicted earnings surprise is too low to be considered statistically significant. The predicted revenue surprise is too low to be significant. The average price target from the twelve analysts providing estimates is C$136.95.

The company is expected to report a fall in revenue to C$12.34 billion from C$12.92 billion in the same quarter last year. The current quarter consensus estimate of C$2.67 per share implies a gain of 19.63 per cent from the same quarter last year when the company reported C$2.23 per share.