Royal Bank Of Canada (NYSE:RY) Downgraded to Hold Rating by Cibc World Mkts

Key Points

• Analysts at Cibc World Mkts have downgraded the Royal Bank Of Canada from a "strong-buy" to a "hold" rating.
• The current average rating for Royal Bank Of Canada is "Hold," with a price target set at $177.50.
• Royal Bank Of Canada reported earnings of $2.79 per share, exceeding analysts’ expectations, while quarterly revenue reached $12.26 billion.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY was downgraded by equities researchers at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a report issued on Friday,Zacks.com reports.

A number of other equities analysts also recently issued reports on RY. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Argus raised their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, August 29th. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a report on Friday. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of "Hold" and an average price target of $177.50.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY traded up $0.19 during trading on Friday, reaching $144.68. 869,885 shares of the company traded hands, compared to its average volume of 1,062,244. The firm has a 50 day simple moving average of $135.19 and a 200-day simple moving average of $125.26. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $203.31 billion, a PE ratio of 15.28, a P/E/G ratio of 1.48 and a beta of 0.88. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $147.64.

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

Hedge Funds Weigh In On Royal Bank Of Canada

Several large investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its holdings in Royal Bank Of Canada by 104.6% during the second quarter. Osaic Holdings Inc. now owns 75,866 shares of the financial services provider's stock valued at $9,136,000 after purchasing an additional 38,794 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in Royal Bank Of Canada by 11.6% during the second quarter. Orion Porfolio Solutions LLC now owns 22,154 shares of the financial services provider's stock valued at $2,914,000 after purchasing an additional 2,310 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Royal Bank Of Canada by 9.4% during the second quarter. Squarepoint Ops LLC now owns 31,897 shares of the financial services provider's stock valued at $4,196,000 after purchasing an additional 2,740 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Royal Bank Of Canada during the second quarter valued at approximately $305,000. Finally, Fulcrum Equity Management bought a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $228,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

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.