Scotiabank Boosts Royal Bank of Canada (TSE:RY) Price Target to C$252.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by Scotiabank from C$247.00 to C$252.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 4.00% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Desjardins upped their price objective on shares of Royal Bank of Canada from C$247.00 to C$250.00 and gave the company a “buy” rating in a report on Friday, February 27th. National Bank Financial upped their price objective on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Barclays upped their price objective on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a report on Friday, February 27th. Raymond James Financial upped their price objective on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Jefferies Financial Group increased their target price on shares of Royal Bank of Canada from C$217.00 to C$220.00 in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$245.00.

Royal Bank of Canada Price Performance

Shares of RY traded down C$1.90 during mid-day trading on Monday, reaching C$242.30. The stock had a trading volume of 853,217 shares, compared to its average volume of 3,708,354. Royal Bank of Canada has a 52-week low of C$165.36 and a 52-week high of C$246.72. The business’s fifty day moving average is C$230.93 and its 200 day moving average is C$225.65. The firm has a market cap of C$336.92 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 3.42 and a beta of 1.07.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. The firm had revenue of C$17.96 billion during the quarter. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bruce Washington Ross sold 3,657 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74. Following the completion of the transaction, the insider owned 235 shares of the company’s stock, valued at approximately C$57,062.70. This trade represents a 93.96% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$355,245.66. In the last quarter, insiders have sold 29,110 shares of company stock valued at $7,068,490.

Royal Bank of Canada Company Profile

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.