Royal Bank of Canada (TSE:RY) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$217.60 and traded as high as C$223.03. Royal Bank of Canada shares last traded at C$221.95, with a volume of 3,018,926 shares traded.

Analysts Set New Price Targets

Several research firms recently weighed in on RY. Canaccord Genuity Group raised their price objective on Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce boosted their target price on Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Desjardins upped their target price on Royal Bank of Canada from C$247.00 to C$250.00 and gave the company a “buy” rating in a report on Friday, February 27th. Raymond James Financial raised their price target on Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, National Bank Financial lifted their price target on Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$244.58.

Royal Bank of Canada Stock Performance

The business has a 50-day moving average of C$231.78 and a 200 day moving average of C$217.88. The stock has a market cap of C$313.11 billion, a PE ratio of 15.40, a PEG ratio of 3.42 and a beta of 1.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The company had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. Equities analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Activity

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

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.