Royal Bank of Canada (TSE:RY) Price Target Raised to C$244.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by Barclays from C$227.00 to C$244.00 in a research note published on Thursday,BayStreet.CA reports.

Several other equities analysts have also recently weighed in on RY. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research note on Wednesday, December 17th. Desjardins increased 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 report on Monday, February 9th. UBS Group lifted 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. Raymond James Financial boosted their price target on shares of Royal Bank of Canada from C$239.00 to C$248.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$238.31.

Royal Bank of Canada Trading Up 0.9%

RY stock opened at C$236.00 on Thursday. The stock has a 50-day moving average price of C$232.89 and a two-hundred day moving average price of C$214.10. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34. The stock has a market cap of C$330.45 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

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

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction dated 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 C$1,343,448.75. The trade was a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

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.