Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, TD Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by equities research analysts at TD from C$267.00 to C$272.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s price objective indicates a potential upside of 4.86% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$270.00 to C$280.00 and gave the stock a “buy” rating in a research report on Friday. National Bank Financial lifted their price target on Royal Bank of Canada from C$257.00 to C$271.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD Securities lowered their price target on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Barclays lifted their price target on Royal Bank of Canada from C$245.00 to C$260.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Scotiabank lifted their price target on Royal Bank of Canada from C$247.00 to C$252.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$258.50.

Royal Bank of Canada Trading Down 0.4%

Royal Bank of Canada stock traded down C$1.14 on Friday, hitting C$259.40. 1,116,860 shares of the stock traded hands, compared to its average volume of 3,728,900. The firm has a market cap of C$360.70 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 3.42 and a beta of 1.14. The business’s fifty day simple moving average is C$240.41 and its 200 day simple moving average is C$231.76. Royal Bank of Canada has a 1 year low of C$171.29 and a 1 year high of C$265.10.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. The business had revenue of C$17.45 billion during the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. As a group, analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, insider Katherine Gibson sold 462 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$120,965.46. Following the completion of the transaction, the insider owned 290 shares of the company’s stock, valued at approximately C$75,930.70. The trade was a 61.44% decrease in their position. Also, insider Jennifer Kristine Publicover sold 439 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$114,943.37. Following the completion of the transaction, the insider directly owned 152 shares of the company’s stock, valued at approximately C$39,798.16. This trade represents a 74.28% decrease in their position. Insiders have sold 58,220 shares of company stock worth $14,690,362 in the last quarter.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.