TD Lowers Royal Bank of Canada (TSE:RY) Price Target to C$306.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective decreased by equities researchers at TD from C$307.00 to C$306.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. TD’s price objective suggests a potential upside of 7.70% from the company’s current price.

RY has been the topic of a number of other reports. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$240.00 to C$268.00 in a research report on Thursday, August 13th. Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$310.00 to C$318.00 and gave the stock a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods set a C$316.00 target price on shares of Royal Bank of Canada and gave the stock a “hold” rating in a research note on Friday, August 21st. Scotia lifted their target price on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, National Bank Financial set a C$318.00 price target on shares of Royal Bank of Canada and gave the stock an “outperform” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$292.64.

Royal Bank of Canada Trading Up 0.2%

Shares of TSE RY traded up C$0.66 during midday trading on Friday, reaching C$284.13. 1,212,816 shares of the company were exchanged, compared to its average volume of 3,518,058. Royal Bank of Canada has a 1 year low of C$197.58 and a 1 year high of C$306.38. The stock has a fifty day simple moving average of C$293.48 and a 200 day simple moving average of C$260.55. The stock has a market cap of C$394.84 billion, a P/E ratio of 18.47, a PEG ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 15.95% and a net margin of 18.40%.The business had revenue of C$18.54 billion for the quarter. As a group, analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, insider Bruce Washington Ross sold 45,670 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$293.11, for a total transaction of C$13,386,333.70. Following the sale, the insider directly owned 235 shares in the company, valued at approximately C$68,880.85. The trade was a 99.49% decrease in their position. Also, insider Neil Mclaughlin sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of C$287.72, for a total transaction of C$1,150,880.00. Over the last quarter, insiders sold 352,767 shares of company stock worth $100,643,023.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.