RBC wraps up a strong 2018, maintains medium-term guidance for 2019

Morningstar analysts increase fair value estimates of this four star, wide-moat stock.

Eric Compton 29 November, 2018 | 6:00PM

Wide-moat  Royal Bank of Canada (RY) yesterday announced a record $12.4 billion profit for the year ended October 31, an 8% increase from the previous year.

GAAP earnings per share came in at $8.36, up 10.6% compared with 2017 and slightly above Morningstar analyst expectations of $8.33.

“The return on equity improved during the quarter, to 17.6%, and the return on equity for the full year was also 17.6%. These are exceptional results and will likely keep RBC as one of the top two Canadian banks by this metric” said Morningstar equity analyst Eric Crompton in an analyst note.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Royal Bank of Canada103.97 CAD-2.12

About Author

Eric Compton

Eric Compton  Eric Compton is an equity analyst for Morningstar,