Royal Bank of Canada (NYSE:RY) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned an average rating of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $142.50.

Several research analysts have recently weighed in on the stock. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets upped their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th.

Royal Bank of Canada Trading Up 0.9 %

Shares of NYSE:RY opened at $125.27 on Friday. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The stock has a market capitalization of $177.09 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s 50-day simple moving average is $123.49 and its two-hundred day simple moving average is $115.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Analysts expect that Royal Bank of Canada will post 8.37 EPS for the current year.

Institutional Investors Weigh In On Royal Bank of Canada

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new position in Royal Bank of Canada during the third quarter valued at $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the 3rd quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake in Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares in the last quarter. Finally, Grove Bank & Trust bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $28,000. 45.31% of the stock is owned by institutional investors.

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.