Barclays Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by Barclays from C$245.00 to C$260.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Raymond James Financial lowered shares of Royal Bank of Canada from a “moderate buy” rating to a “hold” rating and boosted their target price for the company from C$248.00 to C$265.50 in a research note on Tuesday, May 12th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$260.00 to C$270.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. National Bank Financial upped their price objective on Royal Bank of Canada from C$257.00 to C$271.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Scotiabank increased their target price on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce raised their target price on Royal Bank of Canada from C$242.00 to C$258.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$258.50.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at C$264.44 on Friday. The business’s fifty day moving average is C$241.24 and its 200 day moving average is C$231.99. Royal Bank of Canada has a one year low of C$171.29 and a one year high of C$265.10. The stock has a market capitalization of C$367.71 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. The firm had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. As a group, sell-side analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were issued a $1.64 dividend. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 2.5%. Royal Bank of Canada’s dividend payout ratio is currently 42.58%.

Insiders Place Their Bets

In other news, insider Jennifer Kristine Publicover sold 439 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$114,943.37. Following the completion of the transaction, the insider owned 152 shares of the company’s stock, valued at C$39,798.16. This represents a 74.28% decrease in their ownership of the stock. Also, insider Katherine Gibson sold 462 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$120,965.46. Following the sale, the insider owned 290 shares of the company’s stock, valued at C$75,930.70. This represents a 61.44% decrease in their position. Insiders have sold a total of 58,220 shares of company stock worth $14,690,362 in the last three months.

More Royal Bank of Canada News

Here are the key news stories impacting Royal Bank of Canada this week:

• Positive Sentiment: Barclays raised its price target to C$260 and kept an overweight rating, signaling continued confidence in Royal Bank of Canada’s outlook. Barclays price target hike
• Positive Sentiment: Desjardins lifted its target to C$275 and reiterated a buy rating, implying more upside from current levels. Desjardins price target hike
• Positive Sentiment: Canaccord Genuity increased its target to C$280 and maintained a buy rating, reflecting a constructive view after the earnings release. Canaccord Genuity price target hike
• Positive Sentiment: TD raised its target to C$272 and kept a buy rating, adding to the broad analyst support. TD price target hike
• Neutral Sentiment: Raymond James boosted its target to C$270.50 but held a market perform rating, suggesting limited immediate upside despite better estimates. Raymond James price target hike
• Neutral Sentiment: CIBC raised its target to C$279 while keeping a neutral rating, indicating valuation may already reflect much of the near-term strength. CIBC price target hike

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.