Royal Bank of Canada (NYSE:RY) Downgraded by StockNews.com to Sell

Posted by on Jun 24th, 2022

StockNews.com downgraded shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) from a hold rating to a sell rating in a research note issued to investors on Thursday.

RY has been the topic of a number of other research reports. Stifel Nicolaus decreased their price objective on Royal Bank of Canada from C$152.00 to C$150.00 in a research note on Friday, April 8th. BMO Capital Markets decreased their price objective on Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. Credit Suisse Group decreased their price objective on Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. TD Securities reduced their target price on Royal Bank of Canada from C$150.00 to C$145.00 in a research report on Friday, May 27th. Finally, Scotiabank reduced their target price on Royal Bank of Canada from C$150.00 to C$147.00 in a research report on Friday, May 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of Moderate Buy and an average target price of $143.84.

Royal Bank of Canada stock opened at $94.97 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $133.29 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.90. Royal Bank of Canada has a fifty-two week low of $94.23 and a fifty-two week high of $119.41. The stock’s fifty day moving average is $101.45 and its two-hundred day moving average is $107.00.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be issued a $0.995 dividend. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.01%.

Several large investors have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. purchased a new stake in shares of Royal Bank of Canada during the 1st quarter valued at about $44,000. Vise Technologies Inc. purchased a new stake in Royal Bank of Canada during the 1st quarter worth approximately $265,000. Reynolds Investment Management Inc. purchased a new stake in Royal Bank of Canada during the 1st quarter worth approximately $596,000. BNP Paribas Arbitrage SA purchased a new stake in Royal Bank of Canada during the 1st quarter worth approximately $2,648,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in Royal Bank of Canada during the 1st quarter worth approximately $1,311,000. Institutional investors and hedge funds own 41.50% of the company’s stock.

About Royal Bank of Canada (Get Rating)

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.

Further Reading

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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