Royal Bank Of Canada (NYSE:RY) Stock Rating Upgraded by TD Securities

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “buy” rating in a research report issued on Thursday, MarketBeat reports.

Other analysts have also recently issued reports about the stock. Raymond James Financial started coverage on shares of Royal Bank Of Canada in a research note on Monday, November 24th. They set a “moderate buy” rating for the company. National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Argus upped their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Finally, Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Trading Up 1.2%

NYSE RY opened at $162.48 on Thursday. The company has a market cap of $227.58 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.19 and a beta of 0.80. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $162.96. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.82. The company has a 50-day moving average of $148.39 and a 200-day moving average of $139.32.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. During the same period last year, the company earned $3.07 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of institutional investors have recently added to or reduced their stakes in RY. Norges Bank purchased a new stake in shares of Royal Bank Of Canada during the second quarter worth about $2,599,262,000. Canerector Inc. increased its holdings in Royal Bank Of Canada by 20,412.0% during the 3rd quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock worth $1,964,188,000 after purchasing an additional 13,267,800 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Royal Bank Of Canada by 1,218.0% in the 2nd quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock valued at $752,937,000 after purchasing an additional 5,289,330 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Royal Bank Of Canada by 129.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider’s stock valued at $796,227,000 after purchasing an additional 3,990,839 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider’s stock valued at $7,048,307,000 after buying an additional 3,387,971 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.