Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bank Financial Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price boosted by equities researchers at National Bank Financial from C$235.00 to C$241.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s target price points to a potential upside of 3.00% from the company’s previous close.

Other research analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. TD Securities raised their price objective on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research report on Monday, February 9th. Desjardins upped their target price on shares of Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. UBS Group increased their price target on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. Finally, Barclays raised their price target on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus price target of C$237.00.

Royal Bank of Canada Price Performance

TSE RY opened at C$233.98 on Tuesday. The firm has a market cap of C$327.62 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$240.34. The stock’s 50 day simple moving average is C$232.66 and its 200 day simple moving average is C$213.31.

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

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the transaction, the director directly owned 5,873 shares in the company, valued at C$1,343,448.75. This represents 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. and other countries.