Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by stock analysts at BMO Capital Markets from C$229.00 to C$245.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 6.36% from the stock’s previous close.

RY has been the topic of a number of other reports. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a report on Thursday, August 28th. CIBC boosted their target price on Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Jefferies Financial Group downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the stock from C$213.00 to C$215.00 in a research report on Tuesday, November 25th. National Bankshares raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$203.00 to C$231.00 in a research note on Monday, November 17th. Finally, TD Securities raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and boosted their price objective for the stock from C$215.00 to C$246.00 in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of C$228.92.

Royal Bank of Canada Stock Up 1.1%

Royal Bank of Canada stock opened at C$230.36 on Wednesday. The company has a 50 day moving average of C$212.21 and a 200-day moving average of C$196.21. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$231.71. The stock has a market capitalization of C$323.65 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 3.42 and a beta of 1.29.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The business had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the transaction, the director directly owned 5,873 shares in the company, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

About Royal Bank of Canada

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.