Royal Bank of Canada (RY) Reaches New 12-Month Low at $70.45

Royal Bank of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $70.45 and last traded at $70.51, with a volume of 320832 shares changing hands. The stock had previously closed at $71.91.

RY has been the subject of a number of recent analyst reports. Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Scotiabank upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 10th. Finally, Scotia Howard Weill upgraded shares of Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $97.20.

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $101.36 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $8.54 billion during the quarter, compared to the consensus estimate of $8.39 billion. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. Equities analysts anticipate that Royal Bank of Canada will post 6.47 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of RY. Honkamp Krueger Financial Services Inc. bought a new stake in Royal Bank of Canada in the third quarter worth $120,000. Advisors Asset Management Inc. lifted its stake in Royal Bank of Canada by 148.4% in the second quarter. Advisors Asset Management Inc. now owns 1,843 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 1,101 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in Royal Bank of Canada in the second quarter worth $154,000. Cypress Capital Management LLC bought a new stake in Royal Bank of Canada in the third quarter worth $200,000. Finally, ELCO Management Co. LLC bought a new stake in Royal Bank of Canada in the third quarter worth $200,000. 40.36% of the stock is owned by institutional investors and hedge funds.

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About Royal Bank of Canada (NYSE:RY)

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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