Royal Bank of Canada (TSE:RY) Receives C$244.58 Consensus Target Price from Brokerages

Royal Bank of Canada (TSE:RY) (NYSE:RY) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$244.58.

A number of equities research analysts have issued reports on RY shares. Scotiabank increased their target price on shares of Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Raymond James Financial upped their price target on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. BMO Capital Markets increased their price objective on Royal Bank of Canada from C$229.00 to C$245.00 in a report on Wednesday, December 17th. Barclays increased their price objective on Royal Bank of Canada from C$244.00 to C$245.00 in a report on Friday, February 27th. Finally, TD Securities lowered their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th.

Royal Bank of Canada Price Performance

Shares of RY opened at C$221.90 on Friday. The company has a market capitalization of C$309.76 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 3.42 and a beta of 1.22. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$240.34. The business’s 50-day moving average is C$229.65 and its 200-day moving average is C$219.38.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The business had revenue of C$17.96 billion during the quarter. Equities research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Company Profile

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.