Royal Bank of Canada (TSE:RY) PT Raised to C$163.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by stock analysts at Desjardins from C$156.00 to C$163.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Desjardins’ price objective indicates a potential upside of 11.01% from the stock’s previous close.

Several other equities analysts have also recently issued reports on RY. CIBC lifted their price objective on Royal Bank of Canada from C$135.00 to C$150.00 and gave the company a “neutral” rating in a research note on Friday, May 31st. UBS Group set a C$165.00 target price on Royal Bank of Canada and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group raised their target price on Royal Bank of Canada from C$159.00 to C$168.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. TD Securities raised their target price on Royal Bank of Canada from C$156.00 to C$160.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, National Bankshares raised their target price on Royal Bank of Canada from C$154.00 to C$161.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$146.12.

Royal Bank of Canada Stock Performance

Shares of TSE RY traded down C$2.12 during mid-day trading on Tuesday, reaching C$146.84. 1,253,597 shares of the company’s stock were exchanged, compared to its average volume of 5,134,527. The firm has a market capitalization of C$207.04 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a 52-week low of C$107.92 and a 52-week high of C$155.22. The company’s 50-day moving average is C$148.04 and its 200-day moving average is C$139.87.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, May 30th. The financial services provider reported C$2.92 EPS for the quarter, beating analysts’ consensus estimates of C$2.77 by C$0.15. The company had revenue of C$14.15 billion during the quarter, compared to analysts’ expectations of C$13.58 billion. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. As a group, equities analysts predict that Royal Bank of Canada will post 11.1525292 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$140.99, for a total transaction of C$2,819,840.00. Following the sale, the insider now owns 235 shares of the company’s stock, valued at C$33,133.12. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the transaction, the insider now directly owns 25 shares in the company, valued at C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 20,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of C$140.99, for a total value of C$2,819,840.00. Following the transaction, the insider now owns 235 shares in the company, valued at C$33,133.12. Over the last 90 days, insiders have sold 101,302 shares of company stock valued at $14,592,565.

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.