Jefferies Financial Group Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by investment analysts at Jefferies Financial Group from C$226.00 to C$232.00 in a report released on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s price objective would suggest a potential downside of 9.81% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Desjardins boosted their price target on Royal Bank of Canada from C$250.00 to C$262.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. TD Securities reduced their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Scotiabank boosted their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the company a “sector outperform” rating in a research note on Monday, May 4th. Barclays lifted their price objective on Royal Bank of Canada from C$244.00 to C$245.00 in a report on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce lifted their price objective on Royal Bank of Canada from C$242.00 to C$258.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$253.19.

Royal Bank of Canada Price Performance

RY stock traded up C$4.70 during mid-day trading on Wednesday, reaching C$257.23. The company had a trading volume of 1,264,759 shares, compared to its average volume of 3,753,792. Royal Bank of Canada has a 52 week low of C$171.29 and a 52 week high of C$257.39. The stock has a 50 day simple moving average of C$235.11 and a two-hundred day simple moving average of C$229.00. The company has a market capitalization of C$357.68 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 3.42 and a beta of 1.14.

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

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 23,089 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$5,606,470.98. Following the sale, the director owned 5,873 shares in the company, valued at C$1,426,081.86. This represents a 79.72% decrease in their position. Also, insider Katherine Gibson sold 462 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$112,182.84. Following the sale, the insider owned 290 shares in the company, valued at approximately C$70,417.80. The trade was a 61.44% decrease in their position. In the last three months, insiders have sold 29,110 shares of company stock worth $7,068,490.

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.