Credit Suisse Group Increases Royal Bank of Canada (TSE:RY) Price Target to C$150.00

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) had its target price boosted by equities research analysts at Credit Suisse Group to C$150.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Credit Suisse Group’s target price would suggest a potential upside of 11.37% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Scotiabank cut their price objective on Royal Bank of Canada from C$147.00 to C$144.00 in a report on Thursday, August 18th. National Bankshares raised their price objective on Royal Bank of Canada from C$147.00 to C$148.00 and gave the company an “outperform” rating in a report on Thursday, August 25th. Keefe, Bruyette & Woods raised their price objective on Royal Bank of Canada from C$118.00 to C$129.00 in a report on Friday, September 2nd. BMO Capital Markets cut their price objective on Royal Bank of Canada from C$140.00 to C$132.00 in a report on Friday, September 2nd. Finally, CSFB cut their price objective on Royal Bank of Canada from C$144.00 to C$143.00 in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$143.42.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$134.69 on Tuesday. Royal Bank of Canada has a 52-week low of C$116.75 and a 52-week high of C$149.60. The business’s fifty day moving average is C$126.11 and its 200-day moving average is C$126.20. The firm has a market cap of C$187.45 billion and a price-to-earnings ratio of 12.27.

Royal Bank of Canada (TSE:RYGet Rating) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 24th. The financial services provider reported C$2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.67 by C($0.12). The firm had revenue of C$12.13 billion during the quarter. As a group, research analysts forecast that Royal Bank of Canada will post 11.8399996 EPS for the current fiscal year.

Insider Activity

In other news, Director David Ian Mckay sold 4,078 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of C$124.89, for a total value of C$509,291.63. Following the transaction, the director now directly owns 5,873 shares of the company’s stock, valued at approximately C$733,464.87. Insiders have sold 12,234 shares of company stock valued at $1,559,529 in the last ninety days.

Royal Bank of Canada Company Profile

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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.

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