Royal Bank of Canada (TSE:RY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$229.77.

RY has been the subject of a number of research reports. Desjardins raised their price objective on Royal Bank of Canada from C$230.00 to C$240.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. UBS Group raised their target price on Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Jefferies Financial Group lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the company from C$213.00 to C$215.00 in a report on Tuesday, November 25th. Scotiabank raised their price objective on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a report on Friday, January 9th. Finally, TD Securities raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and upped their target price for the company from C$215.00 to C$246.00 in a research note on Thursday, December 4th.

Insider Buying and Selling at Royal Bank of Canada

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

Royal Bank of Canada Price Performance

TSE RY opened at C$227.52 on Friday. The company’s fifty day moving average is C$228.85 and its two-hundred day moving average is C$208.03. Royal Bank of Canada has a 52-week low of C$151.25 and a 52-week high of C$240.34. The firm has a market capitalization of C$318.58 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 3.42 and a beta of 1.32.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The business had revenue of C$17.21 billion during the quarter. As a group, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

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. and other countries.