Royal Bank of Canada (NYSE:RY) Receives Average Recommendation of “Buy” from Brokerages

Royal Bank of Canada (NYSE:RY) (TSE:RY) has been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $142.50.

Several equities analysts recently commented on the stock. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Royal Bank of Canada Stock Performance

NYSE RY opened at $125.67 on Friday. The firm has a market capitalization of $177.66 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The firm’s fifty day moving average price is $123.61 and its two-hundred day moving average price is $115.33. Royal Bank of Canada has a 1 year low of $88.49 and a 1 year high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, research analysts anticipate that Royal Bank of Canada will post 8.73 EPS for the current year.

Institutional Investors Weigh In On Royal Bank of Canada

A number of large investors have recently bought and sold shares of the company. National Bank of Canada FI grew its stake in Royal Bank of Canada by 16.7% during the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares in the last quarter. FMR LLC grew its stake in Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after buying an additional 7,702,585 shares in the last quarter. CIBC Asset Management Inc grew its stake in Royal Bank of Canada by 0.9% during the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after buying an additional 124,348 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Royal Bank of Canada by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 12,127,506 shares of the financial services provider’s stock worth $1,289,274,000 after buying an additional 256,023 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Royal Bank of Canada by 1.8% during the second quarter. Legal & General Group Plc now owns 10,504,593 shares of the financial services provider’s stock worth $1,118,150,000 after buying an additional 190,341 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Company Profile

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.