Analysts Set Royal Bank of Canada (TSE:RY) Price Target at C$163.38

Shares of Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) have been given a consensus rating of “Buy” by the twelve analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is C$163.38.

Several research analysts have commented on RY shares. Desjardins raised their price target on shares of 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. UBS Group set a C$165.00 price target on shares of Royal Bank of Canada and gave the company a “buy” rating in a report on Tuesday, July 2nd. Argus raised shares of Royal Bank of Canada to a “strong-buy” rating in a report on Thursday, June 6th. Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, CIBC raised their price target on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th.

Check Out Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Trading Down 1.0 %

RY opened at C$165.30 on Tuesday. The company has a 50 day moving average of C$156.24 and a 200 day moving average of C$145.80. The company has a market cap of C$233.07 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 10.64 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$107.92 and a 12 month high of C$169.04.

Royal Bank of Canada (TSE:RYGet 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 during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Research analysts forecast that Royal Bank of Canada will post 12.7644788 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is presently 50.35%.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$167.91, for a total value of C$1,679,100.00. Following the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,197.75. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders have sold a total of 120,270 shares of company stock worth $19,851,907 in the last 90 days.

Royal Bank of Canada Company Profile

(Get Free Report

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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Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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