Raymond James Financial Raises Royal Bank of Canada (TSE:RY) Price Target to C$248.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target boosted by research analysts at Raymond James Financial from C$239.00 to C$248.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price objective would suggest a potential upside of 7.33% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Barclays lifted their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. TD Securities boosted their price target on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. National Bank Financial raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Canadian Imperial Bank of Commerce raised their price target on Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Desjardins boosted their price target on shares of Royal Bank of Canada from C$240.00 to C$247.00 and gave the company a “buy” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$237.00.

Royal Bank of Canada Trading Up 0.0%

RY traded up C$0.09 during midday trading on Tuesday, hitting C$231.07. 1,000,584 shares of the company traded hands, compared to its average volume of 3,800,110. The business has a 50 day simple moving average of C$232.44 and a two-hundred day simple moving average of C$212.79. Royal Bank of Canada has a 52-week low of C$151.25 and a 52-week high of C$240.34. The company has a market capitalization of C$323.55 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The company had revenue of C$17.21 billion for the quarter. Equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the business’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 transaction, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

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.