Royal Bank of Canada (RY) reported its fourth quarter and FY2014 financial results before Wednesday’s opening bell. Although the company posted higher results, it missed analysts’ expectations.
Inside RY’s Results
Q4 Earnings
The company reported earnings of C$2.32 billion, or C$1.57 per share, up from C$2.10 billion, or C$1.39 per share, last year. Analysts expected earnings of C$1.58 per share.
Q4 Revenue
Revenue came in at C$8.38 billion, compared to C$7.92 billion in the year prior. Analysts expected revenue of C$8.40 billion.
FY2014 Earnings
For FY2014, earnings were C$8.91 billion, or C$6.00 per share, up from C$8.24 billion, or C$5.49 per share, in the year before. Excluding special items, earnings were C$9.14 billion, or C$6.09 per share. On average, analysts expected to C$6.16.
FY2014 Revenue
Revenue for the year was C$34.11 billion, up from C$30.68 billion in 2013. Analysts expected to see revenue of C$32.43 billion.
Mutual Funds to Watch
For investors seeking exposure to Royal Bank of Canada without purchasing the individual stock, a mutual fund investment could be a good alternative. Below are the mutual funds that currently own the largest stakes in RY.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| VGTSX | Vanguard Total International Stock Index Fund | 0.63% |
| FKINX | Franklin Income | 0.28% |
| FICDX | Fidelity Canada | 0.17% |
The Bottom Line
The funds above allow investors to gain exposure to Royal Bank of Canada as well as many other Canadian holdings. Investors interested in RY may also be interested in stocks like Bank of Montreal (BMO) and Toronto-Dominion Bank (TD) .