Jefferies Financial Group Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by equities researchers at Jefferies Financial Group from C$240.00 to C$268.00 in a note issued to investors on Thursday,BayStreet.CA reports. Jefferies Financial Group’s target price suggests a potential downside of 10.43% from the company’s current price.

A number of other brokerages have also commented on RY. Canadian Imperial Bank of Commerce raised their price objective on Royal Bank of Canada from C$258.00 to C$279.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Raymond James Financial boosted their price target on Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research report on Wednesday. Barclays increased their price objective on Royal Bank of Canada from C$245.00 to C$260.00 and gave the company an “overweight” rating in a report on Friday, May 29th. TD boosted their target price on Royal Bank of Canada from C$272.00 to C$307.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Desjardins upped their target price on Royal Bank of Canada from C$275.00 to C$320.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of C$278.23.

Royal Bank of Canada Stock Up 0.6%

RY stock traded up C$1.64 during midday trading on Thursday, reaching C$299.20. The company had a trading volume of 580,527 shares, compared to its average volume of 3,572,927. Royal Bank of Canada has a fifty-two week low of C$186.51 and a fifty-two week high of C$306.38. The stock has a 50 day moving average price of C$290.71 and a 200 day moving average price of C$255.91. The firm has a market capitalization of C$415.79 billion, a PE ratio of 19.45, a P/E/G ratio of 3.42 and a beta of 1.05.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported C$3.90 EPS for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The firm had revenue of C$17.45 billion for the quarter. Research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Neil Mclaughlin sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$287.70, for a total value of C$1,006,950.00. Also, insider Bruce Washington Ross sold 3,657 shares of the stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$297.19, for a total transaction of C$1,086,823.83. Following the completion of the transaction, the insider owned 235 shares in the company, valued at C$69,839.65. This represents a 93.96% decrease in their ownership of the stock. Insiders sold 353,206 shares of company stock valued at $100,237,874 over the last three months.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.