Jefferies Financial Group Raises Royal Bank of Canada (TSE:RY) Price Target to C$220.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price lifted by equities researchers at Jefferies Financial Group from C$217.00 to C$220.00 in a research report issued on Wednesday,BayStreet.CA reports. Jefferies Financial Group’s target price would suggest a potential downside of 6.49% from the company’s previous close.

RY has been the subject of several other research reports. TD Securities lifted their target price on Royal Bank of Canada from C$246.00 to C$260.00 in a research report on Monday. Scotiabank raised their price target on Royal Bank of Canada from C$231.00 to C$242.00 in a report on Friday, January 9th. Raymond James Financial increased their target price on Royal Bank of Canada from C$229.00 to C$239.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Finally, Desjardins boosted their target price on shares of Royal Bank of Canada from C$240.00 to C$247.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$231.77.

Royal Bank of Canada Trading Down 1.1%

RY stock traded down C$2.55 during mid-day trading on Wednesday, hitting C$235.27. 919,354 shares of the company were exchanged, compared to its average volume of 3,817,943. The company has a market capitalization of C$329.43 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28. Royal Bank of Canada has a twelve month low of C$151.25 and a twelve month high of C$240.34. The firm has a fifty day simple moving average of C$231.77 and a 200 day simple moving average of C$211.29.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. The business had revenue of C$17.21 billion for the quarter. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insider Activity

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

About Royal Bank of Canada

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.