Royal Bank of Canada (TSE:RY) Price Target Raised to C$241.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by equities researchers at National Bank Financial from C$235.00 to C$241.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target would indicate a potential upside of 4.30% from the company’s current price.

A number of other research firms also recently commented on RY. Scotiabank increased their price objective on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. BMO Capital Markets increased their target price on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. UBS Group boosted 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. Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, TD Securities boosted their target price on Royal Bank of Canada from C$246.00 to C$260.00 in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$237.00.

Royal Bank of Canada Stock Performance

RY traded up C$0.09 on Tuesday, hitting C$231.07. 1,000,584 shares of the company were exchanged, compared to its average volume of 3,800,110. The business’s fifty day moving average is C$232.44 and its 200 day moving average is C$212.79. The firm has a market capitalization of C$323.55 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$240.34.

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 firm 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%. Analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction dated 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 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.