Brokerages Set Royal Bank of Canada (NYSE:RY) Price Target at $139.54

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $139.54.

RY has been the subject of a number of research reports. Credit Suisse Group reduced their price target on shares of Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Desjardins reduced their price target on shares of Royal Bank of Canada from C$143.00 to C$141.00 in a research report on Thursday, August 25th. National Bank Financial boosted their price target on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a research report on Thursday, August 25th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Friday, November 18th. Finally, Scotiabank reduced their target price on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a report on Thursday, August 18th.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $100.89 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $93.02 and a 200 day moving average price of $96.17. The company has a market cap of $139.85 billion, a P/E ratio of 11.64, a PEG ratio of 2.36 and a beta of 0.82. Royal Bank of Canada has a 12 month low of $83.63 and a 12 month high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last issued its earnings results on Wednesday, August 24th. The financial services provider reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.01. The firm had revenue of $9.43 billion during the quarter. Royal Bank of Canada had a net margin of 26.29% and a return on equity of 16.85%. Sell-side analysts predict that Royal Bank of Canada will post 8.41 earnings per share for the current fiscal year.

Institutional Trading of Royal Bank of Canada

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its position in shares of Royal Bank of Canada by 185.6% in the second quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Royal Bank of Canada by 56.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock valued at $28,000 after buying an additional 105 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $29,000. Financial Management Professionals Inc. lifted its stake in shares of Royal Bank of Canada by 64.9% during the third quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after buying an additional 135 shares during the period. Finally, Venture Visionary Partners LLC purchased a new position in shares of Royal Bank of Canada during the second quarter valued at approximately $33,000. 40.46% of the stock is currently owned by institutional investors and hedge funds.

About Royal Bank of Canada

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

Further Reading

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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