Royal Bank of Canada (NYSE:RY) PT Raised to C$148.00

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) had its price objective lifted by analysts at National Bank Financial from C$147.00 to C$148.00 in a research report issued to clients and investors on Friday, The Fly reports.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their target price for the company from $141.00 to $148.00 in a research note on Monday, February 7th. Scotiabank reduced their price target on shares of Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. Canaccord Genuity Group lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from $141.00 to $148.00 in a report on Monday, February 7th. Credit Suisse Group lowered their target price on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday. Finally, StockNews.com began coverage on shares of Royal Bank of Canada in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $144.05.

Shares of RY traded up $1.99 during trading hours on Friday, hitting $102.68. The stock had a trading volume of 15,016 shares, compared to its average volume of 1,299,434. Royal Bank of Canada has a 12-month low of $95.02 and a 12-month high of $119.41. The firm has a market cap of $144.11 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The company’s fifty day simple moving average is $105.41 and its 200 day simple moving average is $107.37.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings results on Thursday, February 24th. The financial services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.13. The business had revenue of $10.37 billion during the quarter. Royal Bank of Canada had a return on equity of 18.28% and a net margin of 28.16%. As a group, sell-side analysts predict that Royal Bank of Canada will post 8.67 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in Royal Bank of Canada by 13.8% during the 3rd quarter. Schroder Investment Management Group now owns 508,615 shares of the financial services provider’s stock valued at $64,101,000 after buying an additional 61,565 shares in the last quarter. Captrust Financial Advisors grew its position in Royal Bank of Canada by 5.8% during the 3rd quarter. Captrust Financial Advisors now owns 36,615 shares of the financial services provider’s stock worth $3,642,000 after purchasing an additional 2,004 shares during the last quarter. EPG Wealth Management LLC grew its position in Royal Bank of Canada by 6.4% during the 3rd quarter. EPG Wealth Management LLC now owns 2,745 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Royal Bank of Canada by 10.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 14,072 shares of the financial services provider’s stock valued at $1,493,000 after acquiring an additional 1,295 shares during the period. Finally, Banque Pictet & Cie SA acquired a new stake in Royal Bank of Canada during the 4th quarter valued at approximately $1,157,000. Hedge funds and other institutional investors own 41.50% of the company’s stock.

Royal Bank of Canada Company Profile (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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