Royal Bank of Canada (RY.TO) (TSE:RY) Price Target Raised to C$117.00


Royal Bank of Canada (RY.TO) (TSE:RY) (NYSE:RY) had its price objective hoisted by National Bank Financial from C$113.00 to C$117.00 in a research note released on Monday, The Fly reports. National Bank Financial currently has an outperform rating on the financial services provider’s stock. National Bank Financial also issued estimates for Royal Bank of Canada (RY.TO)’s FY2022 earnings at $9.68 EPS.

RY has been the topic of a number of other reports. CIBC raised their target price on shares of Royal Bank of Canada (RY.TO) from C$127.00 to C$128.00 in a research note on Thursday, December 3rd. Canaccord Genuity raised their target price on shares of Royal Bank of Canada (RY.TO) from C$107.00 to C$113.50 in a research note on Thursday, December 3rd. Scotiabank lowered their target price on shares of Royal Bank of Canada (RY.TO) from C$125.00 to C$122.00 in a research note on Thursday, December 3rd. BMO Capital Markets raised their target price on shares of Royal Bank of Canada (RY.TO) from C$106.00 to C$111.00 in a research note on Monday, December 14th. Finally, Fundamental Research raised their target price on shares of Royal Bank of Canada (RY.TO) from C$89.93 to C$102.97 and gave the company a hold rating in a research note on Tuesday, December 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of C$110.13.

Royal Bank of Canada (RY.TO) stock opened at C$108.18 on Monday. The company has a market capitalization of C$153.95 billion and a P/E ratio of 13.83. The firm’s fifty day simple moving average is C$105.88 and its 200-day simple moving average is C$98.80. Royal Bank of Canada has a 1-year low of C$72.00 and a 1-year high of C$109.42.

Royal Bank of Canada (RY.TO) (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Wednesday, December 2nd. The financial services provider reported C$2.27 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.03 by C$0.24. The business had revenue of C$11.09 billion for the quarter, compared to the consensus estimate of C$11.58 billion. As a group, equities research analysts anticipate that Royal Bank of Canada will post 9.4700001 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 24th. Shareholders of record on Tuesday, January 26th will be given a $1.08 dividend. The ex-dividend date is Monday, January 25th. This represents a $4.32 annualized dividend and a yield of 3.99%. Royal Bank of Canada (RY.TO)’s dividend payout ratio is 54.84%.

In other news, Director David Ian Mckay sold 7,515 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of C$97.19, for a total transaction of C$730,392.62. Following the completion of the transaction, the director now directly owns 5,873 shares of the company’s stock, valued at approximately C$570,804.50. Also, Senior Officer Helena Gottschling sold 691 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of C$97.23, for a total transaction of C$67,183.51. Following the transaction, the insider now directly owns 1,273 shares of the company’s stock, valued at C$123,769.33. Insiders sold a total of 15,721 shares of company stock worth $1,577,601 over the last 90 days.

Royal Bank of Canada (RY.TO) 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, 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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Analyst Recommendations for Royal Bank of Canada (RY.TO) (TSE:RY)



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