Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, Barclays Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target boosted by research analysts at Barclays from C$227.00 to C$244.00 in a report released on Thursday,BayStreet.CA reports. Barclays‘s price target would suggest a potential upside of 4.85% from the company’s previous close.

RY has been the subject of a number of other reports. National Bank Financial raised their price target on Royal Bank of Canada from C$235.00 to C$241.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Securities boosted their price objective on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research report on Monday, February 9th. Desjardins upped their price objective on shares of Royal Bank of Canada from C$240.00 to C$247.00 and gave the stock a “buy” rating in a research report on Monday, February 9th. BMO Capital Markets lifted their price objective on Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Finally, UBS Group lifted their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. One research 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. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$238.31.

Royal Bank of Canada Trading Down 0.5%

Shares of RY traded down C$1.26 during trading hours on Thursday, hitting C$232.72. 601,085 shares of the stock traded hands, compared to its average volume of 3,801,916. The business has a fifty day moving average of C$232.66 and a 200-day moving average of C$213.31. The firm has a market capitalization of C$325.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$240.34.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly 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, equities research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Activity at Royal Bank of Canada

In other news, Director David Ian Mckay sold 91,288 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the transaction, the director directly owned 5,873 shares in the company, valued at approximately C$1,343,448.75. This represents a 93.96% decrease in their position.

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.