Brokerages Set Royal Bank of Canada (NYSE:RY) Price Target at $142.50

Royal Bank of Canada (NYSE:RY) (TSE:RY) has earned an average rating of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $142.50.

RY has been the topic of a number of recent research reports. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets lifted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter worth $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the third quarter worth about $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada during the 3rd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in Royal Bank of Canada during the 2nd quarter valued at about $27,000. Finally, Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Down 0.6 %

NYSE RY opened at $124.30 on Friday. The stock has a 50 day moving average price of $123.41 and a 200-day moving average price of $114.89. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. The company has a market capitalization of $175.72 billion, a P/E ratio of 15.03, a P/E/G ratio of 1.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, equities analysts predict that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, October 24th were issued a dividend of $1.028 per share. This represents a $4.11 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 50.79%.

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 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.