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

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$238.31.

A number of research analysts have recently weighed in on RY shares. BMO Capital Markets raised their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. TD Securities increased their target price on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research report on Monday, February 9th. Canadian Imperial Bank of Commerce boosted their price target on Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Raymond James Financial upped their price target on Royal Bank of Canada from C$239.00 to C$248.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Finally, National Bank Financial raised their price objective on Royal Bank of Canada from C$235.00 to C$241.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$234.00 on Tuesday. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$240.34. The stock’s 50-day moving average is C$232.97 and its two-hundred day moving average is C$214.69. The firm has a market cap of C$327.65 billion, a P/E ratio of 16.63, a PEG ratio of 3.42 and a beta of 1.28.

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

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada 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 owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. This trade 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.