Royal Bank of Canada (TSE:RY) Price Target Lowered to C$147.00 at Scotiabank

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) had its target price dropped by equities research analysts at Scotiabank from C$150.00 to C$147.00 in a research note issued on Friday, BayStreet.CA reports. Scotiabank’s price objective indicates a potential upside of 16.57% from the company’s current price.

Several other analysts have also recently weighed in on the stock. TD Securities increased their price target on shares of Royal Bank of Canada from C$150.00 to C$165.00 in a research note on Tuesday, February 15th. Fundamental Research dropped their price target on shares of Royal Bank of Canada from C$152.07 to C$151.16 and set a “buy” rating for the company in a research note on Monday, March 7th. National Bankshares increased their price objective on shares of Royal Bank of Canada from C$140.00 to C$147.00 in a research report on Wednesday, February 23rd. CIBC lowered their price objective on shares of Royal Bank of Canada from C$149.00 to C$146.00 in a research report on Tuesday. Finally, Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$148.00 to C$150.00 in a research report on Thursday, February 17th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$148.86.

Shares of Royal Bank of Canada stock traded down C$0.88 during mid-day trading on Friday, hitting C$126.10. The stock had a trading volume of 880,263 shares, compared to its average volume of 4,234,529. The firm has a 50-day moving average of C$135.02 and a two-hundred day moving average of C$136.48. Royal Bank of Canada has a 12-month low of C$123.01 and a 12-month high of C$149.60. The firm has a market cap of C$178.64 billion and a P/E ratio of 11.24.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last posted its quarterly earnings results on Thursday, February 24th. The financial services provider reported C$2.87 earnings per share for the quarter, beating the consensus estimate of C$2.72 by C$0.15. The firm had revenue of C$13.07 billion during the quarter. On average, equities research analysts anticipate that Royal Bank of Canada will post 11.979999 earnings per share for the current year.

In other news, Director David Ian Mckay sold 4,077 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of C$141.68, for a total value of C$577,611.83. Following the sale, the director now directly owns 5,873 shares in the company, valued at approximately C$832,061.39. Also, Senior Officer Helena Gottschling sold 404 shares of the firm’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of C$135.38, for a total transaction of C$54,692.51. Following the completion of the sale, the insider now owns 1,373 shares in the company, valued at C$185,873.31. Insiders sold a total of 13,039 shares of company stock valued at $1,821,733 in the last three months.

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.

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