Royal Bank of Canada (TSE:RY) Price Target Raised to C$248.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by Raymond James Financial from C$239.00 to C$248.00 in a research report released on Tuesday,BayStreet.CA reports. Raymond James Financial currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the company. Canaccord Genuity Group raised their price target 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. Scotiabank raised their target price on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. UBS Group upped their price target on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Desjardins lifted their price objective on shares of Royal Bank of Canada from C$240.00 to C$247.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, TD Securities boosted their price objective on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$238.31.

Royal Bank of Canada Trading Down 0.0%

Royal Bank of Canada stock opened at C$233.96 on Tuesday. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$240.34. The company has a fifty day simple moving average of C$232.74 and a 200 day simple moving average of C$213.46. The company has a market cap of C$327.59 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

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 EPS for the quarter. The company had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. On average, equities research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction 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 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.