Royal Bank of Canada (TSE:RY) Downgraded to Hold Rating by TD Securities

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by research analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,BayStreet.CA reports. They currently have a C$180.00 price objective on the financial services provider’s stock, up from their prior price objective of C$178.00. TD Securities’ target price indicates a potential upside of 5.60% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Desjardins lifted their price objective on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. Bank of America raised their price objective on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Barclays upped their target price on Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. Finally, CIBC raised their price target on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$163.54.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock traded down C$1.59 during trading on Friday, hitting C$170.46. 852,116 shares of the company were exchanged, compared to its average volume of 4,866,223. The firm has a market capitalization of C$240.35 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The firm’s fifty day moving average price is C$169.13 and its 200 day moving average price is C$155.17. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.04.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the transaction, the insider now owns 25 shares in the company, valued at approximately C$4,115. The trade was a 99.75 % decrease in their position. Insiders sold a total of 144,770 shares of company stock valued at $23,959,265 over the last ninety days.

Royal Bank of Canada Company Profile

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.