Royal Bank of Canada (NYSE:RY) Stock Rating Lowered by TD Securities

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat reports.

Several other analysts also recently issued reports on RY. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Price Performance

NYSE:RY opened at $121.47 on Friday. The company has a market cap of $171.72 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.86 and a beta of 0.86. The firm’s fifty day moving average price is $123.37 and its two-hundred day moving average price is $113.84. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities analysts expect that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Addison Advisors LLC lifted its holdings in shares of Royal Bank of Canada by 9.5% during the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 82 shares during the period. Mount Yale Investment Advisors LLC boosted its stake in shares of Royal Bank of Canada by 1.6% during the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 92 shares in the last quarter. Drive Wealth Management LLC grew its holdings in Royal Bank of Canada by 3.4% during the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC increased its position in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 95 shares during the period. Finally, Shell Asset Management Co. increased its holdings in Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 100 shares during the period. Institutional investors own 45.31% of the company’s stock.

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.