Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$218.80 and traded as high as C$226.32. Royal Bank of Canada shares last traded at C$224.89, with a volume of 1,953,653 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on RY shares. Raymond James Financial lifted their price objective on Royal Bank of Canada from C$255.00 to C$260.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. National Bank Financial raised their target price on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Scotiabank lifted their price target on shares of Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Finally, Barclays boosted their price target on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$244.58.

Royal Bank of Canada Price Performance

The company has a market cap of C$314.08 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 3.42 and a beta of 1.22. The stock has a 50-day moving average price of C$230.79 and a 200 day moving average price of C$218.80.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The business had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. Sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

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.