Royal Bank Of Canada (NYSE:RY) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a sell rating to a hold rating in a research report report published on Saturday morning.

Other equities analysts also recently issued research reports about the stock. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Finally, Argus increased their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Hold” and a consensus price target of $177.50.

Royal Bank Of Canada Trading Up 0.4%

Shares of NYSE RY opened at $146.45 on Friday. 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 market capitalization of $205.56 billion, a P/E ratio of 15.46, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.44. The business has a fifty day moving average price of $145.76 and a 200 day moving average price of $134.14.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Royal Bank Of Canada

Hedge funds have recently modified their holdings of the company. Advisory Resource Group increased its stake in shares of Royal Bank Of Canada by 0.8% in the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock valued at $1,342,000 after purchasing an additional 75 shares in the last quarter. Trust Co of the South increased its position in shares of Royal Bank Of Canada by 0.3% in the second quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock valued at $3,305,000 after buying an additional 78 shares in the last quarter. Brucke Financial Inc. raised its stake in shares of Royal Bank Of Canada by 1.9% during the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock worth $561,000 after buying an additional 79 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Royal Bank Of Canada by 2.6% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,247 shares of the financial services provider’s stock valued at $478,000 after buying an additional 81 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Royal Bank Of Canada by 13.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after buying an additional 84 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other 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.