Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its target price lifted by investment analysts at Cormark from C$166.00 to C$171.00 in a report released on Thursday, BayStreet.CA reports. Cormark’s price target would indicate a potential upside of 6.10% from the stock’s current price.
RY has been the topic of several other reports. TD Securities raised their price objective on Royal Bank of Canada from C$171.00 to C$178.00 in a report on Thursday. Jefferies Financial Group cut their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Scotiabank cut their price target on Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday, August 19th. Argus upgraded Royal Bank of Canada to a “strong-buy” rating in a report on Thursday, June 6th. Finally, Desjardins lifted their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$161.50.
Check Out Our Latest Report on Royal Bank of Canada
Royal Bank of Canada Trading Up 0.7 %
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. As a group, sell-side analysts predict that Royal Bank of Canada will post 12.8601286 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. In related news, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total value of C$2,161,474.61. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the sale, the insider now owns 235 shares in the company, valued at C$33,243.81. Insiders have sold 101,302 shares of company stock valued at $14,592,565 in the last ninety days.
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.
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