Royal Bank Of Canada (NYSE:RY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $162.00.

RY has been the subject of a number of research analyst reports. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Finally, Weiss Ratings lowered Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th.

Institutional Investors Weigh In On Royal Bank Of Canada

Large investors have recently added to or reduced their stakes in the business. Truist Financial Corp lifted its stake in Royal Bank Of Canada by 10.6% during the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after purchasing an additional 9,677 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Royal Bank Of Canada by 2.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock valued at $50,824,000 after acquiring an additional 7,278 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock valued at $16,407,000 after acquiring an additional 15,046 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Royal Bank Of Canada by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock valued at $1,219,924,000 after acquiring an additional 287,504 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at about $1,463,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Trading Up 0.1%

Shares of RY stock opened at $189.97 on Wednesday. The stock has a market cap of $265.52 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.49 and a beta of 0.80. The stock has a 50-day moving average of $173.72 and a 200-day moving average of $167.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 1-year low of $124.19 and a 1-year high of $191.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.62 EPS. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.53 earnings per share for the current year.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.