Royal Bank Of Canada (NYSE:RY) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded the Royal Bank of Canada's stock rating from "hold" to a "strong-buy", reflecting positive sentiment towards its growth potential.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $177.50, indicating optimism among analysts regarding its future performance.
• In its latest earnings report, Royal Bank of Canada reported earnings per share of $2.79, surpassing analyst expectations, while revenues showed a 16.1% year-over-year increase despite being below analysts' forecasts.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on RY. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Argus boosted 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. CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Erste Group Bank raised Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Monday, September 22nd. Finally, National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $177.50.

Royal Bank Of Canada Stock Down 0.2%

Shares of NYSE:RY opened at $146.58 on Monday. The stock has a market capitalization of $205.99 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The stock's 50-day moving average price is $144.04 and its 200-day moving average price is $132.02. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $149.26.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its 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. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same period in the prior year, the business posted $3.26 EPS. Royal Bank Of Canada's quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities 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

A number of institutional investors and hedge funds have recently made changes to their positions in RY. Brighton Jones LLC boosted its position in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after purchasing an additional 575 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Royal Bank Of Canada by 0.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,415 shares of the financial services provider's stock valued at $3,766,000 after acquiring an additional 226 shares in the last quarter. Value Partners Investments Inc. raised its position in shares of Royal Bank Of Canada by 574.8% in the 1st quarter. Value Partners Investments Inc. now owns 323,135 shares of the financial services provider's stock worth $36,436,000 after purchasing an additional 275,251 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Royal Bank Of Canada by 4.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 15,808 shares of the financial services provider's stock worth $1,782,000 after purchasing an additional 618 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in shares of Royal Bank Of Canada by 12.1% during the first quarter. PDS Planning Inc now owns 4,578 shares of the financial services provider's stock valued at $516,000 after buying an additional 494 shares during the last quarter. Institutional investors 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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