Royal Bank Of Canada (NYSE:RY) Receives Buy (B) Rating from Weiss Ratings

Key Points

• Royal Bank of Canada has received a **"buy (B)"** rating from Weiss Ratings, indicating positive sentiment among equities research analysts.
• The stock has a **market cap of $203.90 billion** and has experienced significant price movement, with a fifty-two week low of $106.10 and a high of $149.26.
• Despite the buy rating from Weiss, other analysts have expressed mixed views, with **six ratings for buy** and **six for hold**, highlighting a **"Moderate Buy"** average rating and a consensus price target of **$177.50**.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY's stock had its "buy (b)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts also recently weighed in on the stock. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, Argus increased their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Royal Bank Of Canada has an average rating of "Moderate Buy" and a consensus price target of $177.50.

Royal Bank Of Canada Price Performance

Shares of RY opened at $145.09 on Wednesday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26. The firm's 50 day moving average price is $141.49 and its 200 day moving average price is $129.95. The company has a market cap of $203.90 billion, a P/E ratio of 15.32, a PEG ratio of 1.48 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

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 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $16.03 billion. During the same period in the prior year, the firm earned $3.26 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. On average, research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Royal Bank Of Canada

Hedge funds have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC boosted its stake in shares of Royal Bank Of Canada by 1,187.6% during the first quarter. Campbell & CO Investment Adviser LLC now owns 25,740 shares of the financial services provider's stock worth $2,901,000 after buying an additional 23,741 shares during the period. Baskin Financial Services Inc. boosted its holdings in shares of Royal Bank Of Canada by 5.0% in the first quarter. Baskin Financial Services Inc. now owns 62,855 shares of the financial services provider's stock valued at $7,079,000 after acquiring an additional 3,006 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Royal Bank Of Canada by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 341,776 shares of the financial services provider's stock valued at $38,525,000 after acquiring an additional 3,767 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Royal Bank Of Canada by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 6,458,212 shares of the financial services provider's stock valued at $727,970,000 after acquiring an additional 271,531 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Royal Bank Of Canada by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider's stock valued at $9,789,000 after acquiring an additional 3,358 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

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.

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