Royal Bank of Canada (NYSE:RY) Cut to "Sell" at Wall Street Zen

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the stock. CIBC reaffirmed an "outperform" rating on shares of Royal Bank of Canada in a report on Tuesday, May 20th. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, National Bank Financial downgraded Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY traded up $0.33 during trading on Friday, hitting $127.82. The stock had a trading volume of 90,668 shares, compared to its average volume of 1,310,888. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $102.44 and a 12-month high of $129.46. The stock has a market capitalization of $180.79 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The stock has a 50-day simple moving average of $119.29 and a two-hundred day simple moving average of $119.71.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company had revenue of $11.38 billion during the quarter, compared to analysts' expectations of $15.77 billion. During the same quarter in the previous year, the company earned $2.92 EPS. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts expect that Royal Bank of Canada will post 9.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Royal Bank of Canada

A number of institutional investors have recently added to or reduced their stakes in RY. Vanguard Group Inc. grew its holdings in shares of Royal Bank of Canada by 5.7% in the first quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock valued at $7,048,307,000 after purchasing an additional 3,387,971 shares during the period. TD Asset Management Inc boosted its holdings in Royal Bank of Canada by 0.9% in the 1st quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after purchasing an additional 277,466 shares during the last quarter. Norges Bank purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $2,425,519,000. Bank of Nova Scotia raised its position in shares of Royal Bank of Canada by 8.0% during the 1st quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after buying an additional 1,249,589 shares during the period. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in Royal Bank of Canada by 3.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock valued at $1,423,464,000 after acquiring an additional 420,466 shares during the last quarter. 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.