Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other analysts have also commented on the stock. Barclays boosted their price target on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the company an “underweight” rating in a research note on Monday, August 21st. Credit Suisse Group boosted their price target on shares of Royal Bank of Canada from $138.00 to $139.00 and gave the company an “outperform” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has an average rating of “Hold” and a consensus target price of $138.60.
Royal Bank of Canada Stock Performance
NYSE:RY opened at $86.85 on Thursday. The company has a fifty day moving average of $92.40 and a 200-day moving average of $94.31. The firm has a market capitalization of $121.79 billion, a P/E ratio of 11.26, a P/E/G ratio of 1.79 and a beta of 0.84. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $83.63 and a twelve month high of $104.72.
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its earnings results on Thursday, August 24th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.14. Royal Bank of Canada had a return on equity of 15.43% and a net margin of 13.51%. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $9.54 billion. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 8.31 EPS for the current year.
Institutional Trading of Royal Bank of Canada
Several institutional investors have recently made changes to their positions in the company. Syverson Strege & Co bought a new position in shares of Royal Bank of Canada in the first quarter valued at approximately $28,000. Delta Asset Management LLC TN bought a new position in Royal Bank of Canada during the fourth quarter valued at about $29,000. Optiver Holding B.V. bought a new position in Royal Bank of Canada during the second quarter valued at about $29,000. Money Concepts Capital Corp bought a new position in Royal Bank of Canada during the fourth quarter valued at about $38,000. Finally, Grey Fox Wealth Advisors LLC bought a new position in Royal Bank of Canada during the fourth quarter valued at about $39,000. Institutional investors own 42.02% of the company’s stock.
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.