Royal Bank of Canada (NYSE:RY) Upgraded to Hold by StockNews.com

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts have also recently issued research reports about the stock. Barclays raised their price target on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the stock an “underweight” rating in a research note on Monday, August 21st. Credit Suisse Group raised their price target on shares of Royal Bank of Canada from $138.00 to $139.00 and gave the company an “outperform” rating in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $138.60.

Royal Bank of Canada Stock Up 0.7 %

NYSE RY opened at $87.63 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day simple moving average of $85.30 and a 200 day simple moving average of $91.10. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $104.72. The stock has a market cap of $122.88 billion, a PE ratio of 11.37, a PEG ratio of 1.63 and a beta of 0.84.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 24th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.14. Royal Bank of Canada had a net margin of 13.51% and a return on equity of 15.43%. The business had revenue of $10.86 billion during the quarter, compared to analysts’ expectations of $9.54 billion. On average, research analysts forecast that Royal Bank of Canada will post 8.26 EPS for the current year.

Hedge Funds Weigh In On Royal Bank of Canada

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Nova Scotia boosted its position in shares of Royal Bank of Canada by 13.0% during the third quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after purchasing an additional 3,062,038 shares in the last quarter. Toronto Dominion Bank lifted its position in Royal Bank of Canada by 10.6% in the 1st quarter. Toronto Dominion Bank now owns 21,119,042 shares of the financial services provider’s stock valued at $2,023,058,000 after acquiring an additional 2,029,807 shares in the last quarter. National Bank of Canada FI lifted its position in Royal Bank of Canada by 4.2% in the 3rd quarter. National Bank of Canada FI now owns 19,602,058 shares of the financial services provider’s stock valued at $1,661,862,000 after acquiring an additional 797,146 shares in the last quarter. Norges Bank bought a new stake in Royal Bank of Canada in the 4th quarter valued at $1,583,609,000. Finally, FMR LLC lifted its position in Royal Bank of Canada by 8.4% in the 1st quarter. FMR LLC now owns 15,683,269 shares of the financial services provider’s stock valued at $1,499,860,000 after acquiring an additional 1,211,281 shares in the last quarter. 42.02% of the stock is owned by institutional investors.

Royal Bank of Canada Company Profile

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.