Royal Bank of Canada (TSE:RY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$229.77.

Several analysts have weighed in on the stock. Jefferies Financial Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$213.00 to C$215.00 in a research note on Tuesday, November 25th. National Bankshares upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$203.00 to C$231.00 in a research report on Monday, November 17th. BMO Capital Markets lifted their price objective on Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Raymond James Financial boosted their price objective on Royal Bank of Canada from C$229.00 to C$239.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Finally, Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the completion of the transaction, the director owned 5,873 shares in the company, valued at approximately C$1,343,448.75. The trade was a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada Trading Up 1.0%

Shares of Royal Bank of Canada stock opened at C$232.75 on Friday. Royal Bank of Canada has a 1 year low of C$151.25 and a 1 year high of C$240.34. The company’s fifty day simple moving average is C$229.90 and its 200-day simple moving average is C$209.44. The company has a market cap of C$325.90 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The firm had revenue of C$17.21 billion for the quarter. As a group, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.