Royal Bank Of Canada (NYSE:RY) Receives $177.50 Consensus Price Target from Brokerages

Key Points

• The Royal Bank of Canada has received a consensus rating of "Hold" from analysts, with six holding ratings and four buy ratings issued by ten firms.
• The bank's average twelve-month price target among analysts is $177.50, indicating potential upside based on current trading levels.
• Royal Bank of Canada reported an EPS of $2.79 for the latest quarter, surpassing estimates, but its revenue of $12.26 billion fell short of analysts' expectations of $16.03 billion.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have been given a consensus recommendation of "Hold" by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $177.50.

A number of equities analysts have weighed in on the company. CIBC lowered Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research report on Friday, September 5th. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. National Bankshares reaffirmed a "sector perform" rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Finally, Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th.

Royal Bank Of Canada Stock Up 0.8%

Shares of RY stock traded up $1.22 during mid-day trading on Friday, reaching $147.38. 942,999 shares of the company's stock traded hands, compared to its average volume of 933,620. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $147.64. The company has a market cap of $207.12 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.50 and a beta of 0.88. 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 company's 50-day moving average price is $137.59 and its 200-day moving average price is $126.90.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of Royal Bank Of Canada during the 4th quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its position in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Bank Of Canada during the 1st quarter valued at approximately $32,000. Roxbury Financial LLC lifted its position in Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock worth $45,000 after buying an additional 104 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 257 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

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.