Royal Bank of Canada (NYSE:RY) (TSE:RY)‘s stock had its “buy” rating restated by investment analysts at Desjardins in a research note issued to investors on Thursday, AnalystRatings.com reports. They currently have a $111.00 target price on the financial services provider’s stock. Desjardins’ price objective would suggest a potential upside of 42.31% from the stock’s current price. Desjardins also issued estimates for Royal Bank of Canada’s Q2 2019 earnings at $1.62 EPS, FY2019 earnings at $6.60 EPS and FY2020 earnings at $7.10 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Finally, Scotiabank reaffirmed an “average” rating and issued a $111.00 price objective on shares of Royal Bank of Canada in a research note on Friday, February 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $99.25.
RY stock traded up $0.05 during midday trading on Thursday, reaching $78.00. The company had a trading volume of 89,521 shares, compared to its average volume of 905,969. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The stock has a market cap of $110.99 billion, a PE ratio of 11.94, a P/E/G ratio of 1.90 and a beta of 1.11.
Several institutional investors have recently made changes to their positions in the company. Resources Investment Advisors Inc. purchased a new stake in Royal Bank of Canada during the 1st quarter valued at $30,000. CWM LLC boosted its position in Royal Bank of Canada by 86.8% during the 1st quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after buying an additional 190 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Royal Bank of Canada during the 4th quarter valued at $38,000. Financial Gravity Companies Inc. purchased a new stake in Royal Bank of Canada during the 4th quarter valued at $38,000. Finally, WP Advisors LLC purchased a new stake in Royal Bank of Canada during the 1st quarter valued at $38,000. 42.23% of the stock is owned by institutional investors.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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