Royal Bank of Canada (NYSE:RY) Lowered to “Sell” at StockNews.com

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. Argus upped their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. UBS Group started coverage on shares of Royal Bank of Canada in a research report on Tuesday. They issued a “buy” rating for the company. Barclays initiated coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Finally, Scotiabank raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Stock Up 1.4 %

RY traded up $1.50 on Wednesday, hitting $109.02. The company had a trading volume of 472,100 shares, compared to its average volume of 1,080,839. 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 has a 52-week low of $77.90 and a 52-week high of $109.60. The stock has a fifty day simple moving average of $104.15 and a 200-day simple moving average of $100.89. The firm has a market capitalization of $154.27 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.67 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. As a group, equities analysts expect that Royal Bank of Canada will post 8.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. increased its holdings in Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock valued at $48,000 after buying an additional 185 shares in the last quarter. Mather Group LLC. acquired a new position in Royal Bank of Canada during the first quarter worth about $49,000. Addison Advisors LLC boosted its position in Royal Bank of Canada by 131.0% during the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 300 shares during the last quarter. Heritage Wealth Advisors acquired a new position in Royal Bank of Canada during the fourth quarter worth about $61,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Royal Bank of Canada by 192.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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.