Royal Bank Of Canada (NYSE:RY) Issues Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) posted its earnings results on Thursday. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03, Zacks reports. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $188.98 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $264.13 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.49 and a beta of 0.80. The stock has a 50-day moving average of $174.22 and a two-hundred day moving average of $168.00. Royal Bank Of Canada has a 1-year low of $124.19 and a 1-year high of $191.51.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after buying an additional 575 shares during the period. AQR Capital Management LLC increased its stake in Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 4,460 shares during the period. Sivia Capital Partners LLC increased its stake in Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,934 shares during the period. Baird Financial Group Inc. increased its stake in Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock worth $1,783,000 after buying an additional 3,811 shares during the period. Finally, Cerity Partners LLC increased its stake in Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after buying an additional 3,928 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.