Royal Bank of Canada (TSE:RY) Price Target Raised to C$231.00 at Scotiabank

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by analysts at Scotiabank from C$218.00 to C$231.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target points to a potential upside of 3.08% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$203.00 to C$231.00 in a research note on Monday, November 17th. Cibc World Mkts lowered Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a “buy” rating in a research note on Thursday, August 28th. BMO Capital Markets raised their price objective on Royal Bank of Canada from C$190.00 to C$203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Finally, CIBC upped their target price on Royal Bank of Canada from C$208.00 to C$220.00 in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$221.86.

Royal Bank of Canada Price Performance

TSE RY traded up C$5.45 during trading on Thursday, hitting C$224.09. The company’s stock had a trading volume of 2,401,138 shares, compared to its average volume of 4,080,429. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$225.26. The company has a market cap of C$316.04 billion, a PE ratio of 16.95, a P/E/G ratio of 3.42 and a beta of 1.28. The business’s 50 day simple moving average is C$207.06 and its 200-day simple moving average is C$192.35.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported C$3.85 EPS for the quarter. The firm had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. Analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.