Analysts Set Royal Bank of Canada (TSE:RY) Target Price at C$244.58

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$244.58.

A number of brokerages recently weighed in on RY. Barclays lifted their price objective on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a research note on Friday, February 27th. Scotiabank increased their target price on shares of Royal Bank of Canada from C$242.00 to C$247.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. TD Securities lowered their target price on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. BMO Capital Markets boosted their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th.

Royal Bank of Canada Price Performance

RY opened at C$219.85 on Friday. Royal Bank of Canada has a 12 month low of C$151.25 and a 12 month high of C$240.34. The stock has a market cap of C$306.23 billion, a P/E ratio of 15.10, a P/E/G ratio of 3.42 and a beta of 1.22. The stock’s 50 day moving average price is C$228.65 and its 200 day moving average price is C$219.73.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (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. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current 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.