Royal Bank Of Canada (NYSE:RY) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts have rated Royal Bank Of Canada (NYSE:RY) with a consensus recommendation of "Moderate Buy," with six hold and six buy recommendations among twelve brokerages.
• The stock has seen significant price movements, opening at $144.53 with a 52-week high of $149.26 and a low of $106.10.
• Royal Bank Of Canada reported earnings of $2.79 per share for the last quarter, exceeding the consensus estimate of $2.36.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have been given an average rating of "Moderate Buy" by the twelve brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $177.50.

A number of equities analysts have recently issued reports on the company. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Weiss Ratings reissued a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. CIBC downgraded Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research report on Friday, September 5th. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Finally, Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $144.53 on Tuesday. The stock's fifty day moving average is $142.42 and its 200 day moving average is $130.78. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26. The firm has a market capitalization of $203.11 billion, a PE ratio of 15.26, a PEG ratio of 1.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.

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

Institutional Investors Weigh In On Royal Bank Of Canada

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

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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