Royal Bank of Canada (TSE:RY) Price Target Raised to C$197.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Scotiabank from C$167.00 to C$197.00 in a research note issued to investors on Monday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 12.75% from the stock’s current price.

RY has been the topic of several other reports. Jefferies Financial Group cut their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday, November 19th. National Bankshares upped their target price on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a research note on Wednesday, November 20th. Finally, Desjardins upped their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has an average rating of “Buy” and an average price target of C$175.17.

Royal Bank of Canada Stock Performance

Shares of TSE:RY traded up C$0.01 on Monday, hitting C$174.72. 732,239 shares of the company were exchanged, compared to its average volume of 4,834,894. The company’s 50 day moving average price is C$170.00 and its two-hundred day moving average price is C$156.75. Royal Bank of Canada has a one year low of C$115.57 and a one year high of C$175.59. The firm has a market capitalization of C$246.36 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,174.03. This trade represents a 99.67 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Over the last three months, insiders have sold 144,770 shares of company stock valued at $23,959,265.

About Royal Bank of Canada

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.