Royal Bank of Canada (TSE:RY) Stock Price Target Lowered at Desjardins

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective decreased by equities research analysts at Desjardins from C$320.00 to C$316.00 in a note issued to investors on Wednesday, BayStreet reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins‘s price target would suggest a potential upside of 8.88% from the stock’s current price.

RY has been the subject of several other reports. Jefferies Financial Group raised their price objective on Royal Bank of Canada from C$268.00 to C$271.00 in a research note on Thursday, September 3rd. Raymond James Financial boosted their target price on Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Barclays upped their target price on Royal Bank of Canada from C$260.00 to C$300.00 in a report on Friday, August 21st. National Bank Financial upped their target price on Royal Bank of Canada from C$318.00 to C$321.00 and gave the company an “outperform” rating in a report on Sunday, August 30th. Finally, Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$310.00 to C$318.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$292.57.

Royal Bank of Canada Trading Up 0.9%

RY stock traded up C$2.67 on Wednesday, hitting C$290.23. 642,525 shares of the company’s stock traded hands, compared to its average volume of 3,472,010. The stock has a market cap of C$401.80 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 3.42 and a beta of 0.89. Royal Bank of Canada has a 1-year low of C$202.79 and a 1-year high of C$306.38. The stock has a fifty day moving average of C$283.12 and a 200-day moving average of C$264.78.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share (EPS) for the quarter. The firm had revenue of C$18.54 billion for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. On average, equities research analysts anticipate that Royal Bank of Canada will post 12.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 23,091 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$279.97, for a total transaction of C$6,464,787.27. Following the completion of the sale, the director directly owned 5,873 shares in the company, valued at approximately C$1,644,263.81. This trade represents a 79.72% decrease in their position. Also, insider Bruce Washington Ross sold 3,659 shares of Royal Bank of Canada stock in a transaction dated Monday, August 24th. The shares were sold at an average price of C$279.97, for a total value of C$1,024,410.23. Following the transaction, the insider directly owned 235 shares in the company, valued at approximately C$65,792.95. This trade represents a 93.97% decrease in their position. Insiders sold a total of 75,908 shares of company stock valued at $21,177,587 over the last ninety days.

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. and 27 other countries.