Royal Bank of Canada (RY) Downgraded by CIBC

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday. They currently have a C$114.00 price target on the financial services provider’s stock, up from their previous price target of C$113.00. CIBC’s target price indicates a potential upside of 8.91% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. CSFB upped their target price on Royal Bank of Canada from C$108.00 to C$114.00 in a report on Friday, January 19th. National Bank Financial upped their target price on Royal Bank of Canada from C$105.00 to C$107.00 and gave the company a “sector perform” rating in a report on Friday, January 12th. Citigroup upped their target price on Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. Eight Capital upgraded Royal Bank of Canada from a “neutral” rating to a “buy” rating and upped their target price for the company from C$107.00 to C$113.00 in a report on Monday, December 11th. Finally, Scotiabank upped their target price on Royal Bank of Canada from C$110.00 to C$111.00 and gave the company a “sector perform” rating in a report on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Royal Bank of Canada has a consensus rating of “Hold” and a consensus price target of C$108.17.

Royal Bank of Canada (RY) traded down C$0.65 during mid-day trading on Thursday, reaching C$104.67. 3,205,511 shares of the company’s stock were exchanged, compared to its average volume of 2,485,286. Royal Bank of Canada has a 52 week low of C$90.13 and a 52 week high of C$108.52. The stock has a market capitalization of $152,310.00, a price-to-earnings ratio of 13.85 and a beta of 0.72.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, November 29th. The financial services provider reported C$1.92 EPS for the quarter, beating analysts’ consensus estimates of C$1.88 by C$0.04. Royal Bank of Canada had a net margin of 26.20% and a return on equity of 16.63%.

In other Royal Bank of Canada news, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of C$108.12, for a total transaction of C$578,658.24. Also, insider Jennifer Anne Tory sold 344 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of C$101.18, for a total value of C$34,805.92. Insiders have sold 19,531 shares of company stock valued at $2,024,910 in the last ninety days.

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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.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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