Royal Bank of Canada (TSE:RY) Posts Quarterly Earnings Results

Royal Bank of Canada (TSE:RYGet Free Report) (NYSE:RY) posted its earnings results on Thursday. The financial services provider reported C$4.08 earnings per share for the quarter, FiscalAI reports. Royal Bank of Canada had a net margin of 28.23% and a return on equity of 13.27%. The firm had revenue of C$17.96 billion during the quarter.

Royal Bank of Canada Trading Down 1.9%

Royal Bank of Canada stock traded down C$4.57 during midday trading on Thursday, reaching C$232.64. 1,743,623 shares of the stock traded hands, compared to its average volume of 3,768,687. The firm has a fifty day moving average price of C$233.26 and a two-hundred day moving average price of C$215.21. Royal Bank of Canada has a fifty-two week low of C$151.25 and a fifty-two week high of C$240.34. The firm has a market cap of C$325.75 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 3.42 and a beta of 1.28.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 91,288 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the completion of the sale, the director owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. This represents a 93.96% decrease in their ownership of the stock.

Royal Bank of Canada News Roundup

Here are the key news stories impacting Royal Bank of Canada this week:

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. TD Securities upped their price objective on shares of Royal Bank of Canada from C$246.00 to C$260.00 in a research note on Monday, February 9th. Scotiabank increased their price target on shares of Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, UBS Group boosted their target price on shares of Royal Bank of Canada from C$225.00 to C$238.00 in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$238.31.

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Royal Bank of Canada Company Profile

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Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.

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Earnings History for Royal Bank of Canada (TSE:RY)

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