Royal Bank of Canada (TSE:RY) Upgraded by BMO Capital Markets to "Outperform"

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY was upgraded by BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research note issued on Friday, BayStreet.CA reports. The brokerage currently has a C$150.00 price objective on the financial services provider's stock, up from their previous price objective of C$140.00. BMO Capital Markets' target price suggests a potential upside of 7.83% from the stock's current price.

Several other equities research analysts have also recently weighed in on RY. Desjardins raised their price objective on shares of Royal Bank of Canada from C$136.00 to C$142.00 and gave the company a "buy" rating in a research report on Tuesday, December 19th. Scotiabank increased their price objective on Royal Bank of Canada from C$140.00 to C$143.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. National Bankshares upped their target price on shares of Royal Bank of Canada from C$135.00 to C$148.00 and gave the company an "outperform" rating in a report on Wednesday, December 20th. CIBC dropped their price target on Royal Bank of Canada from C$140.00 to C$135.00 and set a "neutral" rating for the company in a report on Friday, March 8th. Finally, Bank of America raised shares of Royal Bank of Canada from a "neutral" rating to a "buy" rating and upped their price target for the stock from C$130.00 to C$146.00 in a report on Monday, December 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$137.65.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded up C$2.34 during trading on Friday, hitting C$139.11. The stock had a trading volume of 4,114,883 shares, compared to its average volume of 5,048,384. The business has a fifty day moving average of C$133.35 and a two-hundred day moving average of C$126.52. The firm has a market cap of C$196.15 billion, a P/E ratio of 12.93, a PEG ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a fifty-two week low of C$107.92 and a fifty-two week high of C$139.20.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last announced its earnings results on Wednesday, February 28th. The financial services provider reported C$2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$2.79 by C$0.06. Royal Bank of Canada had a return on equity of 13.66% and a net margin of 28.61%. The firm had revenue of C$13.49 billion during the quarter, compared to analysts' expectations of C$13.65 billion. As a group, research analysts forecast that Royal Bank of Canada will post 11.461602 earnings per share for the current year.

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.