Royal Bank of Canada (TSE:RY) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Royal Bank of Canada crossed above its 200-day moving average (200‑day MA C$217.60), trading as high as C$223.03 and last at C$221.95 on volume of 3,018,926 shares.
• Analysts have been raising targets lately—consensus rating is a “Moderate Buy” with a consensus price target of C$244.58 (1 Strong Buy, 8 Buy, 2 Hold).
• Fundamentals: most recent quarter EPS C$4.08 and revenue C$17.96B, market cap ~C$310B and P/E 15.24; meanwhile Director David I. McKay sold 91,288 shares in December.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$217.60 and traded as high as C$223.03. Royal Bank of Canada shares last traded at C$221.95, with a volume of 3,018,926 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on RY shares. Jefferies Financial Group raised their target price on Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th. Barclays increased their price target on Royal Bank of Canada from C$244.00 to C$245.00 in a report on Friday, February 27th. National Bank Financial raised their price objective on Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Desjardins boosted their price objective on Royal Bank of Canada from C$247.00 to C$250.00 and gave the company a "buy" rating in a report on Friday, February 27th. Finally, Scotiabank upped their target price on Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Moderate Buy" and a consensus price target of C$244.58.

Royal Bank of Canada Stock Performance

The company has a market cap of C$309.98 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 3.42 and a beta of 1.22. The stock's fifty day moving average is C$232.18 and its two-hundred day moving average is C$217.60.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The firm had revenue of C$17.96 billion for the quarter. On average, equities research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 91,288 shares of the firm's stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$228.75, for a total transaction of C$20,882,130.00. Following the completion of the sale, the director directly owned 5,873 shares of the company's stock, valued at C$1,343,448.75. This trade represents a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.

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