Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) had its price objective reduced by investment analysts at National Bankshares from C$136.00 to C$135.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ target price would suggest a potential upside of 12.09% from the company’s current price.
A number of other equities research analysts have also issued reports on the stock. Cormark dropped their target price on shares of Royal Bank of Canada from C$143.00 to C$142.00 and set a “buy” rating for the company in a report on Friday, August 25th. Morningstar downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$129.00 to C$130.00 in a report on Friday, August 25th. CIBC decreased their target price on shares of Royal Bank of Canada from C$139.00 to C$129.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 22nd. Desjardins dropped their price target on Royal Bank of Canada from C$141.00 to C$136.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Finally, Credit Suisse Group lifted their price objective on Royal Bank of Canada from C$138.00 to C$139.00 in a research report on Friday, August 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$133.70.
Royal Bank of Canada Price Performance
Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its quarterly earnings results on Thursday, August 24th. The financial services provider reported C$2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.68 by C$0.16. Royal Bank of Canada had a return on equity of 13.51% and a net margin of 27.28%. The firm had revenue of C$14.49 billion for the quarter, compared to analyst estimates of C$12.89 billion. As a group, sell-side analysts expect that Royal Bank of Canada will post 11.688 EPS for the current fiscal year.
Insider Buying and Selling at Royal Bank of Canada
In other news, Director David Ian Mckay sold 4,131 shares of the business’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of C$111.32, for a total transaction of C$459,862.92.
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.
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