Quarterly earnings this morning from Royal Bank Of Canada (RY) continues to show why I trade so heavily within the Canadian banking stocks. (All figures in this article are in Canadian dollars. This stock is traded on the TSX Composite Index in Canadian dollars)
Their quarterly numbers are impressive. Profits, which most analysts were doubting would surpass the last quarter let alone last year for the same quarter, came in 5% higher for the third quarter.
They reported gains in their core Canadian banking unit and double digit earnings growth at its wealth management business. These two were more than enough to offset a dip of 4% in their capital markets business which earned $611 million.
Earnings came in at $1.89 a share versus estimates of $1.87 and well above the $1.69 they earned for the same quarter last year.
Last year revenue reached $10.26 billion for this quarter, which was a record quarter last year. This year’s revenue was just below $10 billion.
Dividend Increased
The bank increased their quarterly dividend to 91 cents from 87 cents a 4.6% increase.
Royal Bank Of Canada Stock Trade Updates and Alerts
The rest of this article is a strategy discussion of past trades in Royal Bank Of Canada Stock, a new trade done today and an outline of future trades for the next couple of weeks.
The rest of this Royal Bank Of Canada Stock analysis and trade alert is for FullyInformed Members.
Royal Bank Of Canada Stock (RY) Trade Alert following Stellar Earnings and A Dividend Hike – Aug 23 2017
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