Royal Bank of Canada (TSE:RY) Price Target Raised to C$227.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by Barclays from C$221.00 to C$227.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would indicate a potential upside of 1.30% from the stock’s previous close.

A number of other research analysts have also weighed in on RY. TD Securities raised their target price on shares of Royal Bank of Canada from C$208.00 to C$215.00 in a report on Monday, November 10th. Natl Bk Canada raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Monday. National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$203.00 to C$231.00 in a report on Monday, November 17th. Scotiabank set a C$218.00 price target on Royal Bank of Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Finally, Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$201.00 to C$219.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$221.86.

Royal Bank of Canada Stock Performance

Shares of RY traded up C$5.45 during midday trading on Thursday, hitting C$224.09. 2,401,138 shares of the company traded hands, compared to its average volume of 4,080,429. The stock has a market cap of C$316.04 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.42 and a beta of 1.28. The firm has a 50 day moving average of C$207.06 and a 200-day moving average of C$192.35. Royal Bank of Canada has a 52 week low of C$151.25 and a 52 week high of C$225.26.

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

About Royal Bank of Canada

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.