Royal Bank of Canada (TSE:RY) Given New C$165.00 Price Target at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective boosted by equities researchers at BMO Capital Markets from C$151.00 to C$165.00 in a report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 2.38% from the company’s previous close.

Several other analysts have also recently weighed in on the company. Cormark boosted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday. Jefferies Financial Group dropped their price objective on 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. Desjardins boosted their price objective on Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Barclays boosted their price objective on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Finally, UBS Group set a C$165.00 price objective on Royal Bank of Canada and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$161.50.

Royal Bank of Canada Trading Up 0.7 %

Shares of Royal Bank of Canada stock traded up C$1.19 during trading on Thursday, reaching C$161.17. The company’s stock had a trading volume of 863,659 shares, compared to its average volume of 5,004,763. The stock has a 50-day moving average price of C$150.25 and a two-hundred day moving average price of C$142.14. Royal Bank of Canada has a one year low of C$107.92 and a one year high of C$162.73. The stock has a market capitalization of C$228.86 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.38% and a net margin of 28.37%. The business had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 12.8601286 EPS for the current fiscal year.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the transaction, the insider now directly owns 25 shares in the company, valued at approximately C$3,628.83. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the transaction, the insider now directly owns 25 shares in the company, valued at approximately C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total value of C$1,721,604.71. Following the completion of the transaction, the insider now owns 235 shares of the company’s stock, valued at C$33,243.81. In the last three months, insiders sold 101,302 shares of company stock worth $14,592,565.

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.