Jefferies Financial Group Forecasts Strong Price Appreciation for Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price raised by investment analysts at Jefferies Financial Group from C$217.00 to C$220.00 in a research report issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price objective points to a potential downside of 4.55% from the stock’s previous close.

Other analysts also recently issued reports about the company. Barclays increased their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Scotiabank raised their price objective on Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Natl Bk Canada raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. Finally, Raymond James Financial increased their target price on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$234.54.

Royal Bank of Canada Stock Down 1.8%

TSE:RY opened at C$230.49 on Wednesday. The stock’s 50-day simple moving average is C$232.22 and its 200 day simple moving average is C$211.59. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$240.34. The firm has a market capitalization of C$322.73 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

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

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada 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 transaction of C$20,882,130.00. Following the sale, the director directly owned 5,873 shares in the company, valued at C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada Company Profile

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.