BMO Capital Markets Boosts Royal Bank of Canada (TSE:RY) Price Target to C$245.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by stock analysts at BMO Capital Markets from C$229.00 to C$245.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 7.79% from the company’s previous close.

RY has been the topic of several other research reports. UBS Group lifted their target price on Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. Bank of America raised their price target on shares of Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. CIBC boosted their price objective on shares of Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Scotiabank increased their target price on shares of Royal Bank of Canada from C$218.00 to C$231.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, Natl Bk Canada raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$228.15.

Royal Bank of Canada Stock Performance

TSE:RY traded down C$1.49 during trading hours on Wednesday, reaching C$227.29. The company’s stock had a trading volume of 1,317,432 shares, compared to its average volume of 4,043,750. The stock has a 50 day moving average price of C$211.17 and a two-hundred day moving average price of C$195.75. The company has a market capitalization of C$319.34 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 3.42 and a beta of 1.29. Royal Bank of Canada has a 12 month low of C$151.25 and a 12 month high of C$230.99.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. The business 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%. As a group, analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction 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 completion of the transaction, the director owned 5,873 shares of the company’s stock, valued at approximately 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.