National Bank Financial Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by analysts at National Bank Financial from C$235.00 to C$241.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would indicate a potential upside of 4.30% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Scotiabank increased their price target on Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Barclays increased their target price on Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Jefferies Financial Group increased their price target on Royal Bank of Canada from C$217.00 to C$220.00 in a research report on Wednesday, February 11th. Canaccord Genuity Group boosted their price objective on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a “neutral” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$237.00.

Royal Bank of Canada Price Performance

Shares of TSE:RY traded up C$0.09 during trading on Tuesday, hitting C$231.07. The company’s stock had a trading volume of 1,000,584 shares, compared to its average volume of 3,800,110. The company has a 50-day moving average of C$232.44 and a 200-day moving average of C$212.79. The firm has a market cap of C$323.55 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a 12 month low of C$151.25 and a 12 month high of C$240.34.

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

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the completion of the sale, the director directly owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. This trade represents a 93.96% decrease in their position.

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.