Royal Bank of Canada (TSE:RY) Price Target Cut to C$152.00 by Analysts at Credit Suisse Group

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) had its price target cut by equities research analysts at Credit Suisse Group to C$152.00 in a report released on Friday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 16.46% from the stock’s previous close.

A number of other brokerages have also weighed in on RY. CSFB set a C$153.00 target price on Royal Bank of Canada and gave the stock an “outperform” rating in a research note on Friday, May 20th. Fundamental Research lowered their price objective on Royal Bank of Canada from C$152.07 to C$151.16 and set a “buy” rating on the stock in a research note on Monday, March 7th. Scotiabank decreased their price target on Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. National Bankshares raised their price objective on Royal Bank of Canada from C$140.00 to C$147.00 in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$148.00 to C$150.00 in a report on Thursday, February 17th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$149.47.

TSE RY traded up C$1.98 during trading hours on Friday, hitting C$130.52. 599,995 shares of the company traded hands, compared to its average volume of 4,156,369. The business’s 50-day moving average is C$133.75 and its 200-day moving average is C$136.35. Royal Bank of Canada has a twelve month low of C$123.70 and a twelve month high of C$149.60. The stock has a market capitalization of C$184.90 billion and a price-to-earnings ratio of 11.61.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last issued its quarterly earnings results on Thursday, February 24th. The financial services provider reported C$2.87 EPS for the quarter, beating the consensus estimate of C$2.72 by C$0.15. The company had revenue of C$13.07 billion for the quarter. As a group, research analysts forecast that Royal Bank of Canada will post 11.9999996 EPS for the current fiscal year.

In related news, Senior Officer Helena Gottschling sold 404 shares of the stock in a transaction on Friday, April 22nd. The stock was sold at an average price of C$135.38, for a total value of C$54,692.51. Following the transaction, the insider now owns 1,373 shares of the company’s stock, valued at C$185,873.31. Also, Director David Ian Mckay sold 4,077 shares of the stock in a transaction on Friday, May 20th. The shares were sold at an average price of C$127.00, for a total value of C$517,795.31. Following the completion of the transaction, the director now directly owns 5,873 shares in the company, valued at approximately C$745,894.49. Insiders sold a total of 12,635 shares of company stock worth $1,704,690 in the last 90 days.

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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