Brokerages Set Royal Bank of Canada (TSE:RY) PT at C$229.77

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$229.77.

RY has been the subject of several analyst reports. Raymond James Financial increased their price target on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Barclays increased their target price on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. UBS Group raised their target price on Royal Bank of Canada from C$225.00 to C$238.00 in a research note on Tuesday, November 25th. CIBC upped their price target on Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Jefferies Financial Group lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$213.00 to C$215.00 in a research report on Tuesday, November 25th.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were 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 of the company’s stock, valued at approximately C$1,343,448.75. This trade represents a 93.96% decrease in their position.

Royal Bank of Canada Trading Down 0.5%

TSE RY opened at C$231.13 on Friday. The firm has a market cap of C$323.63 billion, a PE ratio of 16.43, 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. The stock has a 50-day moving average of C$230.56 and a 200-day moving average of C$209.75.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 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 forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

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.