Royal Bank of Canada (TSE:RY) Given New C$195.00 Price Target at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price upped by equities researchers at BMO Capital Markets from C$165.00 to C$195.00 in a note issued to investors on Monday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 13.87% from the company’s current price.

RY has been the subject of several other research reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the company from C$178.00 to C$180.00 in a report on Friday. Cormark increased their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Bank of America upped their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Finally, Jefferies Financial Group reduced their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$165.85.

Royal Bank of Canada Stock Performance

Shares of RY stock traded up C$0.12 during mid-day trading on Monday, hitting C$171.25. The company’s stock had a trading volume of 522,113 shares, compared to its average volume of 4,863,120. Royal Bank of Canada has a 52-week low of C$115.57 and a 52-week high of C$175.04. The business has a 50-day moving average price of C$169.28 and a 200 day moving average price of C$155.43. The stock has a market cap of C$241.46 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion during the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Equities research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,115. This trade represents a 99.75 % decrease in their position. In the last 90 days, insiders have sold 144,770 shares of company stock valued at $23,959,265.

Royal Bank of Canada Company Profile

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.