BMO Capital Markets Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by stock analysts at BMO Capital Markets from C$229.00 to C$245.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 7.79% from the stock’s previous close.

Other research analysts have also issued reports about the stock. CIBC lifted their price objective on shares of Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. UBS Group raised their target price on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a report on Tuesday, November 25th. Bank of America upped their price target on shares of Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$201.00 to C$219.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Finally, Barclays boosted their target price on Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$228.15.

Royal Bank of Canada Stock Down 0.7%

RY traded down C$1.49 on Wednesday, hitting C$227.29. The company had a trading volume of 1,317,432 shares, compared to its average volume of 4,043,750. The business’s fifty day simple moving average is C$211.17 and its 200 day simple moving average is C$195.75. Royal Bank of Canada has a 12-month low of C$151.25 and a 12-month high of C$230.99. The company has a market cap of C$319.34 billion, a PE ratio of 16.15, a PEG ratio of 3.42 and a beta of 1.29.

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. The business had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. On average, analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the completion of the sale, 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.

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.