RBC Earnings Estimates Soar as Analysts Raise Forecasts

Erste Group Bank analysts have increased their earnings estimates for Royal Bank of Canada (RY) in a research report issued on August 5th. The analysts now forecast that RY will post earnings per share of $12.57 for the year, up from their previous estimate of $12.41.

This is above the broader current-year consensus estimate of $11.41 per share. Royal Bank of Canada's stock opened at $210.93 on Tuesday and has a market capitalization of $292.48 billion.

The analysts' revised forecast signals improving confidence in RBC's earnings outlook. This news comes after the company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81. Revenue was up 11.4% compared to the same quarter last year.

Royal Bank of Canada has a one-year low of $132.51 and a one-year high of $218.57. The company's revenue was $12.84 billion during the quarter, surpassing the consensus estimate of $12.74 billion.