Royal Bank of Canada (TSE:RY) Price Target Raised to C$312.00 at Scotia

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Scotia from C$311.00 to C$312.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotia’s price objective points to a potential upside of 9.81% from the stock’s previous close.

RY has been the subject of a number of other research reports. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a research report on Thursday, August 13th. Canadian Imperial Bank of Commerce upped their target price on shares of Royal Bank of Canada from C$279.00 to C$311.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. TD raised their target price on shares of Royal Bank of Canada from C$272.00 to C$307.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Scotiabank lifted their price target on Royal Bank of Canada from C$275.00 to C$280.00 and gave the stock a “sector outperform” rating in a report on Tuesday, June 16th. Finally, National Bank Financial set a C$318.00 price target on Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$292.64.

Royal Bank of Canada Price Performance

RY stock traded up C$0.66 during mid-day trading on Friday, reaching C$284.13. The company had a trading volume of 1,212,816 shares, compared to its average volume of 3,518,058. The company has a market capitalization of C$394.84 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.42 and a beta of 1.05. Royal Bank of Canada has a 52 week low of C$197.58 and a 52 week high of C$306.38. The stock has a 50 day simple moving average of C$293.48 and a two-hundred day simple moving average of C$260.55.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, August 27th. The financial services provider reported C$4.28 EPS for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The company had revenue of C$18.54 billion during the quarter. On average, equities analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 45,670 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total value of C$13,386,333.70. Following the transaction, the insider directly owned 235 shares in the company, valued at C$68,880.85. The trade was a 99.49% decrease in their ownership of the stock. Also, insider Neil Mclaughlin sold 4,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. Insiders sold a total of 352,767 shares of company stock valued at $100,643,023 over the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.