Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, Scotiabank Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by Scotiabank from C$231.00 to C$242.00 in a report issued on Friday,BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 2.75% from the company’s current price.

A number of other brokerages have also recently commented on RY. UBS Group upped their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Jefferies Financial Group lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their target price for the stock from C$213.00 to C$215.00 in a research report on Tuesday, November 25th. Barclays boosted their price target on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Desjardins boosted their target price on shares of Royal Bank of Canada from C$230.00 to C$240.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Finally, National Bankshares raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$203.00 to C$231.00 in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$229.77.

Royal Bank of Canada Price Performance

TSE RY opened at C$235.52 on Friday. The company has a fifty day moving average price of C$221.66 and a 200-day moving average price of C$203.05. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34. The firm has a market cap of C$329.78 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 3.42 and a beta of 1.32.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The business had revenue of C$17.21 billion for the quarter. On average, research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the completion of the sale, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.