Royal Bank of Canada (TSE:RY) Given New C$255.00 Price Target at Canaccord Genuity Group

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by Canaccord Genuity Group from C$242.00 to C$255.00 in a report released on Thursday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

RY has been the topic of a number of other reports. 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. UBS Group upped their price objective on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. National Bank Financial raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$203.00 to C$231.00 in a research note on Monday, November 17th. Canadian Imperial Bank of Commerce lifted their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Barclays upped their price target on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank of Canada has a consensus rating of “Buy” and an average price target of C$234.54.

Royal Bank of Canada Stock Down 1.8%

Royal Bank of Canada stock opened at C$230.49 on Thursday. The business’s 50-day moving average price is C$232.22 and its 200 day moving average price is C$211.59. The firm has a market cap of C$322.73 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$240.34.

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 EPS for the quarter. The business had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. Equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the stock in a transaction dated Friday, December 12th. The shares were 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. This represents a 93.96% decrease in their position.

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.