Royal Bank Of Canada (NYSE:RY) Lowered to Market Perform Rating by Raymond James Financial

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat.com reports.

A number of other analysts also recently commented on the company. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, May 4th. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Price Performance

RY traded up $0.48 on Tuesday, hitting $181.33. 376,765 shares of the company were exchanged, compared to its average volume of 1,495,317. Royal Bank Of Canada has a fifty-two week low of $120.66 and a fifty-two week high of $182.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $253.44 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.80. The business’s fifty day moving average is $169.13 and its 200 day moving average is $164.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.62 EPS. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 11.57 EPS for the current year.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds have recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the fourth quarter valued at about $26,000. Key Financial Inc increased its stake in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 63 shares during the last quarter. Maseco LLP increased its stake in Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth about $27,000. 45.31% of the stock is owned by institutional investors and hedge funds.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.