Royal Bank Of Canada (NYSE:RY) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a hold rating to a sell rating in a report released on Saturday morning.

Several other research firms have also commented on RY. Argus raised their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Cibc World Mkts lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Finally, Cowen reissued a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

Royal Bank Of Canada Trading Up 0.6%

Shares of Royal Bank Of Canada stock opened at $144.53 on Friday. The stock has a market cap of $203.11 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. The firm has a fifty day moving average price of $142.42 and a 200 day moving average price of $130.78. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $149.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.26 earnings per share. Equities research analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Institutional Investors Weigh In On Royal Bank Of Canada

Several institutional investors and hedge funds have recently added to or reduced their stakes in RY. Sunbelt Securities Inc. increased its stake in shares of Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the 3rd quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. increased its stake in Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock worth $39,000 after buying an additional 257 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Royal Bank Of Canada during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

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.