Desjardins Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price raised by investment analysts at Desjardins from C$230.00 to C$240.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ target price suggests a potential upside of 3.81% from the stock’s current price.

A number of other research firms have also recently commented on RY. Barclays boosted their price objective on Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Jefferies Financial Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$213.00 to C$215.00 in a research report on Tuesday, November 25th. Raymond James Financial lifted their target price 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. 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. Finally, CIBC lifted their price objective on Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$228.92.

Royal Bank of Canada Stock Performance

TSE RY traded up C$3.33 during mid-day trading on Thursday, reaching C$231.19. 1,546,617 shares of the stock were exchanged, compared to its average volume of 4,044,501. The company has a market capitalization of C$324.82 billion, a P/E ratio of 16.43, a P/E/G ratio of 3.42 and a beta of 1.29. The business’s 50 day moving average is C$211.68 and its 200-day moving average is C$195.97. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$231.51.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The business had revenue of C$17.21 billion during the quarter. Equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of Royal Bank of Canada stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the transaction, the director directly owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

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.