BMO Capital Markets Reiterates “Market Perform” Rating for Royal Bank of Canada (RY)

Royal Bank of Canada (TSE:RY) (NYSE:RY)‘s stock had its “market perform” rating reaffirmed by equities research analysts at BMO Capital Markets in a report released on Monday. They presently have a C$106.00 price objective on the financial services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 5.96% from the stock’s current price.

Several other equities research analysts have also recently weighed in on RY. Canaccord Genuity boosted their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 in a research report on Monday, February 26th. Barclays boosted their price target on shares of Royal Bank of Canada from C$100.00 to C$103.00 in a research report on Monday, February 26th. National Bank Financial boosted their price target on shares of Royal Bank of Canada from C$107.00 to C$109.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Scotiabank reduced their price target on shares of Royal Bank of Canada from C$112.00 to C$110.00 and set a “sector perform” rating on the stock in a research report on Friday, May 25th. Finally, Eight Capital boosted their price target on shares of Royal Bank of Canada from C$118.00 to C$119.00 in a research report on Friday, May 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Royal Bank of Canada has a consensus rating of “Hold” and an average target price of C$110.80.

Shares of Royal Bank of Canada traded down C$0.40, hitting C$100.04, on Monday, MarketBeat Ratings reports. 867,880 shares of the company traded hands, compared to its average volume of 2,304,552. Royal Bank of Canada has a 52 week low of C$90.13 and a 52 week high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Thursday, May 24th. The financial services provider reported C$2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.07 by C$0.03. The firm had revenue of C$10.05 billion for the quarter, compared to analysts’ expectations of C$10.06 billion. Royal Bank of Canada had a net margin of 26.17% and a return on equity of 16.49%.

In other news, insider Alex Douglas Mcgregor sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of C$102.63, for a total transaction of C$1,026,300.00. Also, insider Helena Gottschling sold 1,080 shares of the business’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of C$97.08, for a total transaction of C$104,846.40. Over the last ninety days, insiders have acquired 1,060 shares of company stock valued at $84,446 and have sold 63,078 shares valued at $6,351,570.

About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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