Analysts Set Royal Bank Of Canada (NYSE:RY) Price Target at $177.50

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have received an average recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $177.50.

Several equities research analysts have recently commented on the company. National Bank Financial lowered Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cibc World Mkts downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Finally, Argus raised their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 29th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC raised its holdings in Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider’s stock valued at $2,901,000 after acquiring an additional 23,741 shares during the period. Baskin Financial Services Inc. grew its position in shares of Royal Bank Of Canada by 5.0% during the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider’s stock worth $7,079,000 after purchasing an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Royal Bank Of Canada by 1.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider’s stock valued at $38,525,000 after purchasing an additional 3,767 shares during the period. JPMorgan Chase & Co. lifted its holdings in Royal Bank Of Canada by 4.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider’s stock worth $727,970,000 after purchasing an additional 271,531 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Royal Bank Of Canada by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider’s stock worth $9,789,000 after purchasing an additional 3,358 shares during the period. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

NYSE RY opened at $146.20 on Friday. The company has a 50-day moving average price of $138.85 and a 200-day moving average price of $127.81. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $205.46 billion, a P/E ratio of 15.44, a PEG ratio of 1.51 and a beta of 0.88.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. During the same period in the previous year, the business posted $3.26 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

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 checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.