Royal Bank of Canada (TSE:RY) Price Target Raised to C$248.00 at Raymond James Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by Raymond James Financial from C$239.00 to C$248.00 in a report issued on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. National Bank Financial upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Barclays lifted 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. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Finally, Jefferies Financial Group raised their price objective on Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average target price of C$237.00.

Royal Bank of Canada Stock Up 0.0%

TSE:RY opened at C$230.99 on Tuesday. 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$323.43 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The stock’s 50 day moving average price is C$232.53 and its two-hundred day moving average price is C$213.17.

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 company had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. As a group, analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

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