Earnings Preview For Royal Bank of Canada
Portfolio Pulse from Benzinga Insights
Royal Bank of Canada (NYSE:RY) is set to release its latest quarterly earnings report on August 24, 2023. Analysts estimate an earnings per share (EPS) of $2.00. The company's past performance shows a pattern of share price increase following the earnings release, even when the EPS missed the estimate. The stock is currently trading at $88.28, down 8.85% over the last 52-week period.
August 23, 2023 | 2:00 pm
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NEUTRAL IMPACT
Royal Bank of Canada is expected to announce its Q3 earnings on August 24, 2023. Despite a 52-week drop of 8.85%, the stock has historically seen a price increase following earnings announcements.
The upcoming earnings announcement is highly relevant to RY's stock price. Historically, the stock has seen a price increase following earnings announcements, even when the EPS missed estimates. However, the stock has been on a downward trend over the past 52 weeks, which may make investors cautious. Therefore, the short-term impact is neutral until the earnings report is released.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100