TD Securities Increases Royal Bank of Canada (TSE:RY) Price Target to C$178.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective lifted by equities research analysts at TD Securities from C$171.00 to C$178.00 in a report issued on Thursday, BayStreet.CA reports. TD Securities’ price target would indicate a potential upside of 10.44% from the company’s current price.

Other analysts also recently issued research reports about the stock. Argus upgraded shares of Royal Bank of Canada to a “strong-buy” rating in a report on Thursday, June 6th. Desjardins raised their price target on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. National Bankshares cut their price target on shares of Royal Bank of Canada from C$161.00 to C$160.00 and set an “outperform” rating for the company in a report on Friday, August 16th. Scotiabank cut their price target on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday, August 19th. Finally, Jefferies Financial Group cut their price target on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$161.50.

Royal Bank of Canada Stock Up 0.7 %

Shares of RY stock traded up C$1.19 during mid-day trading on Thursday, hitting C$161.17. 863,659 shares of the stock were exchanged, compared to its average volume of 5,004,763. The firm has a fifty day moving average of C$150.25 and a 200 day moving average of C$142.14. Royal Bank of Canada has a 52-week low of C$107.92 and a 52-week high of C$162.73. The company has a market cap of C$228.86 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 10.64 and a beta of 0.85.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The company had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.37% and a return on equity of 13.38%. Equities analysts predict that Royal Bank of Canada will post 12.8601286 EPS for the current year.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total value of C$7,889,646.16. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at C$3,628.83. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$3,628.83. Also, Senior Officer Bruce Washington Ross sold 12,170 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$141.46, for a total transaction of C$1,721,604.71. Following the sale, the insider now directly owns 235 shares of the company’s stock, valued at C$33,243.81. Insiders sold 101,302 shares of company stock valued at $14,592,565 over the last 90 days.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.