Several other equities research analysts also recently commented on the company. Desjardins reiterated a “buy” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a report on Thursday. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Finally, Scotiabank restated an “average” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $99.25.
NYSE RY traded down $0.18 during trading hours on Friday, hitting $78.06. The company’s stock had a trading volume of 829,700 shares, compared to its average volume of 902,316. Royal Bank of Canada has a 12 month low of $65.76 and a 12 month high of $81.56. The company has a market capitalization of $111.68 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Friday, February 22nd. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. The business had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the business posted $2.01 earnings per share. On average, equities analysts predict that Royal Bank of Canada will post 6.69 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in RY. Norges Bank bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at about $1,021,258,000. Mackenzie Financial Corp grew its stake in shares of Royal Bank of Canada by 21.7% during the 4th quarter. Mackenzie Financial Corp now owns 21,668,991 shares of the financial services provider’s stock valued at $1,484,759,000 after purchasing an additional 3,865,530 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Royal Bank of Canada during the 1st quarter valued at about $332,201,000. Toronto Dominion Bank grew its stake in shares of Royal Bank of Canada by 10.4% during the 1st quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock valued at $1,481,311,000 after purchasing an additional 1,853,129 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Royal Bank of Canada by 151.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,553,655 shares of the financial services provider’s stock valued at $204,776,000 after purchasing an additional 1,538,669 shares during the period. Institutional investors and hedge funds own 42.23% of the company’s stock.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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