Royal Bank of Canada (TSE:RY) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$218.80 and traded as high as C$226.32. Royal Bank of Canada shares last traded at C$224.89, with a volume of 1,953,653 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RY. Raymond James Financial boosted their price target on Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a “buy” rating in a report on Friday, February 27th. National Bank Financial increased their price objective on Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. TD Securities dropped their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Desjardins boosted their target price on Royal Bank of Canada from C$247.00 to C$250.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$244.58.

Royal Bank of Canada Stock Performance

The company has a fifty day simple moving average of C$230.79 and a two-hundred day simple moving average of C$218.80. The stock has a market capitalization of C$314.08 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 3.42 and a beta of 1.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%.The company had revenue of C$17.96 billion for the quarter. As a group, equities analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current 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.