Brokerages Set Royal Bank Of Canada (NYSE:RY) Target Price at $177.50

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $177.50.

Several research analysts have issued reports on RY shares. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Argus upped their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, CIBC cut Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RY. Brighton Jones LLC increased its holdings in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares in the last quarter. CX Institutional purchased a new position in Royal Bank Of Canada during the 1st quarter worth approximately $199,000. Elevation Point Wealth Partners LLC grew its position in Royal Bank Of Canada by 3.9% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 5,093 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 193 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Royal Bank Of Canada by 0.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 33,415 shares of the financial services provider’s stock worth $3,766,000 after purchasing an additional 226 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Royal Bank Of Canada during the 1st quarter worth approximately $8,624,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $145.35 on Tuesday. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The stock has a market cap of $204.27 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.47 and a beta of 0.86. The stock’s 50 day moving average price is $143.27 and its 200 day moving average price is $131.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The firm had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the previous year, the company earned $3.26 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

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.