OTTAWA: Royal Bank of Canada (NYSE:RY) is projected to declare fiscal first quarter financial results right before the stock market’s official open on February 24, 2017. The stock added about 8.2 percent in price since last results when it was at $67.05 a share. Based on the most relevant past-periods data, there is an 60 percent probability for this firm’s share price to go down following next quarterly results.
Earnings reaction history tells us that the equity price moved down 6 times out of last 10 reported quarters. It has beaten earnings-per-share estimates 75% of the time in its last 12 earnings reports. It fell short of earnings estimates on 3 occasions, and it has met expectations 0 time. Here’s how traders responded to RY earnings announcements over the past few quarters. Given its history, the average earnings announcement surprise was 0.59 percent over the past four quarters. Back on November 30, 2016, it posted earnings per-share earnings at $1.3 which beat the consensus $1.26 projection (positive surprise of3.17%. For the quarter, revenue came in at 9.27B versus consensus estimate of 9.39B. The stock dropped -3.33 percent the session following the earnings reports were released, and on 7th day price change was -1.15 percent. On August 24, 2016, it reported earnings at $1.32 a share compared with the consensus estimate of $1.31 per share (positive surprise of 0.76%). Revenue of 9.97B for that quarter was above the $9.36B analysts had expected. The stock retreated -0.35% the day following the earnings announcement, and on 7th day price change was -1.79%.
On May 26, 2016, it recorded $1.21 a share in earnings which topped the consensus estimate of $1.2 (positive surprise of 0.83%). Revenue for the quarter was $9.36B while analysts called for revenues to be $8.96B. The stock gained 1.37% the day following the earnings data was made public, and on 7th day price change was -0.54%. On February 24, 2016, it announced earnings per share at $1.22 versus the consensus estimate of $1.25 per share (negative surprise of -2.4%). That came on revenues of $8.02B for that period. Analysts had expected $8.56B in revenue.
