Royal Bank of Canada (TSE:RY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$238.31.

A number of brokerages have weighed in on RY. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a report on Friday, January 9th. Barclays increased their target price on shares of Royal Bank of Canada from C$227.00 to C$244.00 in a research note on Thursday, February 19th. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Raymond James Financial upped their price target on Royal Bank of Canada from C$239.00 to C$248.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th.

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 dated 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 transaction, the director owned 5,873 shares of the company’s stock, valued at approximately C$1,343,448.75. This trade represents a 93.96% decrease in their position.

Royal Bank of Canada Price Performance

TSE RY opened at C$234.00 on Tuesday. Royal Bank of Canada has a 12 month low of C$151.25 and a 12 month high of C$240.34. The firm has a market capitalization of C$327.65 billion, a PE ratio of 16.63, a P/E/G ratio of 3.42 and a beta of 1.28. The company’s 50 day simple moving average is C$232.97 and its 200 day simple moving average is C$214.69.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. The company 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%. Sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

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.