Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target reduced by equities researchers at Cormark from C$112.00 to C$111.00 in a note issued to investors on Thursday, BayStreet.CA reports. Cormark’s price target would suggest a potential upside of 11.32% from the company’s previous close. Cormark also issued estimates for Royal Bank of Canada’s FY2019 earnings at $9.04 EPS, Q1 2020 earnings at $2.35 EPS, Q2 2020 earnings at $2.40 EPS and FY2020 earnings at $9.77 EPS.
Several other analysts also recently commented on the stock. Citigroup lowered their target price on shares of Royal Bank of Canada from C$125.00 to C$120.00 in a report on Thursday, June 27th. Eight Capital lowered their target price on shares of Royal Bank of Canada from C$121.00 to C$114.00 in a report on Wednesday, August 14th. Desjardins increased their price target on shares of Royal Bank of Canada from C$108.00 to C$111.00 in a research report on Tuesday, May 14th. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from C$110.00 to C$114.00 in a research report on Friday, May 24th. Finally, CSFB set a C$109.00 price target on shares of Royal Bank of Canada and gave the company a “neutral” rating in a research report on Thursday, May 16th.
Shares of RY stock traded down C$0.20 on Thursday, hitting C$99.71. The stock had a trading volume of 893,157 shares, compared to its average volume of 2,662,896. The business has a 50 day moving average of C$103.12 and a 200 day moving average of C$103.49. The stock has a market cap of $144.15 billion and a price-to-earnings ratio of 11.54. Royal Bank of Canada has a 12-month low of C$90.10 and a 12-month high of C$107.91.
In related news, Senior Officer Helena Gottschling sold 882 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of C$104.67, for a total value of C$92,318.94. Following the sale, the insider now directly owns 1,415 shares of the company’s stock, valued at C$148,108.05. Also, Senior Officer Alex Douglas Mcgregor sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of C$104.46, for a total transaction of C$1,044,635.00. Following the completion of the sale, the insider now directly owns 54,675 shares in the company, valued at C$5,711,541.86. Insiders have sold 37,398 shares of company stock valued at $3,918,623 in the last quarter.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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