Royal Bank of Canada (TSE:RY) Stock Has Average Price Target of C$292.86 According to Analysts

by · The Markets Daily

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) has received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is C$292.86.

A number of research firms recently commented on RY. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$310.00 to C$318.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Scotia increased their price target on Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 28th. Raymond James Financial raised their price target on shares of Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a “market perform” rating in a report on Wednesday, August 12th. National Bank Financial boosted their price objective on shares of Royal Bank of Canada from C$318.00 to C$321.00 and gave the company an “outperform” rating in a report on Sunday, August 30th. Finally, Barclays lifted their price target on Royal Bank of Canada from C$260.00 to C$300.00 in a research report on Friday, August 21st.

Get Our Latest Research Report on RY

Insiders Place Their Bets

In other news, insider Maria Elena Douvas sold 9,604 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of C$275.20, for a total value of C$2,643,020.80. Also, insider Kelly Bradley sold 359 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$282.24, for a total transaction of C$101,324.16. Insiders have sold 75,908 shares of company stock valued at $21,177,587 in the last ninety days.

Royal Bank of Canada Trading Down 0.3%

RY stock opened at C$285.42 on Friday. The stock has a market capitalization of C$395.14 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 3.42 and a beta of 0.97. The stock’s 50 day simple moving average is C$282.87 and its 200 day simple moving average is C$263.43. Royal Bank of Canada has a 12-month low of C$201.76 and a 12-month high of C$306.38.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. The business had revenue of C$18.54 billion during the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. On average, research analysts predict that Royal Bank of Canada will post 12.35 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be given a C$1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, October 26th. Royal Bank of Canada’s dividend payout ratio (DPR) is 41.49%.

Royal Bank of Canada Company Profile

(Get Free Report)

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.

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