Investment analysts at Macquarie initiated coverage on shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in a research note issued on Tuesday, The Fly reports. The brokerage set an “underperform” rating on the financial services provider’s stock.

Several other analysts have also recently issued reports on RY. BidaskClub upgraded shares of Royal Bank Of Canada from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. Canaccord Genuity started coverage on shares of Royal Bank Of Canada in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Wednesday, July 19th. Howard Weil cut shares of Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. Finally, Scotiabank cut shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $80.00.

Royal Bank Of Canada (NYSE RY) opened at 80.19 on Tuesday. The company has a 50-day moving average of $77.22 and a 200-day moving average of $73.15. The company has a market capitalization of $116.91 billion, a PE ratio of 13.31 and a beta of 1.06. Royal Bank Of Canada has a 52 week low of $60.92 and a 52 week high of $80.98.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a return on equity of 16.63% and a net margin of 22.98%. The firm had revenue of $7.43 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate that Royal Bank Of Canada will post $5.95 EPS for the current year.

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Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its position in shares of Royal Bank Of Canada by 4.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock valued at $102,000 after buying an additional 65 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $191,000. Proficio Capital Partners LLC raised its position in shares of Royal Bank Of Canada by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock valued at $159,000 after buying an additional 26 shares in the last quarter. Asset Advisors Corp purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at $178,000. Finally, Jolley Asset Management LLC raised its position in shares of Royal Bank Of Canada by 1.0% during the 2nd quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock valued at $176,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 40.76% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

The Fly

Analyst Recommendations for Royal Bank Of Canada (NYSE:RY)

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