Desjardins Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Desjardins from C$240.00 to C$247.00 in a report issued on Monday morning,BayStreet.CA reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Raymond James Financial boosted their price objective on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. UBS Group boosted their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a report on Tuesday, November 25th. National Bankshares upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$203.00 to C$231.00 in a report on Monday, November 17th. BMO Capital Markets lifted their target price on Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Finally, Canadian Imperial Bank of Commerce upped their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$231.38.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$236.29 on Monday. The stock has a 50 day simple moving average of C$231.34 and a 200 day simple moving average of C$210.89. Royal Bank of Canada has a 52-week low of C$151.25 and a 52-week high of C$240.34. The firm has a market capitalization of C$330.86 billion, a PE ratio of 16.79, a P/E/G ratio of 3.42 and a beta of 1.28.

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

Insider Buying and Selling

In related news, Director David Ian Mckay sold 91,288 shares of the 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 completion of the transaction, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,343,448.75. This represents 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.