Royal Bank of Canada RY is set to give its latest quarterly earnings report on Wednesday, 2022-08-24. Here's what investors need to know before the announcement.
Analysts estimate that Royal Bank of Canada will report an earnings per share (EPS) of $2.68.
Royal Bank of Canada bulls will hope to hear the company to announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Past Earnings Performance
Last quarter the company beat EPS by $0.25, which was followed by a 2.33% increase in the share price the next day.
Here's a look at Royal Bank of Canada's past performance and the resulting price change:
|Quarter||Q2 2022||Q1 2022||Q4 2021||Q3 2021|
|Price Change %||2.33%||2.8%||2.13%||-1.2%|
Shares of Royal Bank of Canada were trading at $97.8 as of August 22. Over the last 52-week period, shares are down 7.67%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.