Royal Bank Of Canada (NYSE:RY) Reaches New 1-Year High – Should You Buy?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) reached a new 52-week high on Thursday . The company traded as high as $150.04 and last traded at $149.6410, with a volume of 89486 shares changing hands. The stock had previously closed at $148.27.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RY. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. CIBC cut Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Finally, Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day simple moving average of $146.75 and a two-hundred day simple moving average of $137.05. The firm has a market capitalization of $209.90 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.48 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.26 EPS. On average, research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Institutional Investors Weigh In On Royal Bank Of Canada

Several hedge funds and other institutional investors have recently bought and sold shares of RY. Vanguard Group Inc. grew its stake in shares of Royal Bank Of Canada by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 66,338,321 shares of the financial services provider’s stock valued at $9,777,472,000 after buying an additional 1,329,637 shares during the period. TD Asset Management Inc boosted its holdings in Royal Bank Of Canada by 0.9% in the second quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock worth $4,184,220,000 after acquiring an additional 296,978 shares in the last quarter. Norges Bank acquired a new stake in Royal Bank Of Canada in the second quarter valued at approximately $2,599,262,000. Bank of Nova Scotia grew its stake in Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider’s stock valued at $1,892,975,000 after acquiring an additional 1,249,589 shares during the period. Finally, Canerector Inc. increased its holdings in shares of Royal Bank Of Canada by 20,412.0% during the third quarter. Canerector Inc. now owns 13,332,800 shares of the financial services provider’s stock valued at $1,964,188,000 after acquiring an additional 13,267,800 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

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.