Barclays Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Barclays from C$227.00 to C$244.00 in a report issued on Thursday,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on RY. Scotiabank lifted their target price on Royal Bank of Canada from C$231.00 to C$242.00 in a research report on Friday, January 9th. Canaccord Genuity Group lifted their price target on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. TD Securities upped their price objective on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research report on Monday, February 9th. UBS Group raised their target price on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. Finally, Raymond James Financial boosted their target price on shares of Royal Bank of Canada from C$239.00 to C$248.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$238.31.

Royal Bank of Canada Price Performance

Shares of RY opened at C$233.96 on Thursday. The firm has a 50 day simple moving average of C$232.74 and a two-hundred day simple moving average of C$213.46. Royal Bank of Canada has a one year low of C$151.25 and a one year high of C$240.34. The company has a market cap of C$327.59 billion, a P/E ratio of 16.63, a P/E/G ratio of 3.42 and a beta of 1.28.

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 for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The firm had revenue of C$17.21 billion for the quarter. On average, analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

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.