Barclays Forecasts Strong Price Appreciation for Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by equities research analysts at Barclays from C$221.00 to C$227.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price suggests a potential upside of 1.30% from the stock’s current price.

RY has been the subject of several other research reports. Natl Bk Canada raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday. Jefferies Financial Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price target for the company from C$213.00 to C$215.00 in a research report on Tuesday, November 25th. Desjardins boosted their price target on shares of Royal Bank of Canada from C$193.00 to C$214.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Raymond James Financial set a C$229.00 price objective on Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Finally, CIBC lifted their target price on Royal Bank of Canada from C$208.00 to C$220.00 in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$221.86.

Royal Bank of Canada Price Performance

Shares of RY stock traded up C$5.45 during trading hours on Thursday, hitting C$224.09. The company had a trading volume of 2,401,138 shares, compared to its average volume of 4,080,429. The stock has a market capitalization of C$316.04 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. The company’s fifty day moving average is C$207.06 and its 200 day moving average is C$192.35. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$225.26.

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 company 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%. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

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.