Royal Bank of Canada (RY) Stock Rating Upgraded by Zacks Investment Research

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “

Several other equities analysts have also weighed in on RY. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, May 17th. Desjardins restated a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Finally, Scotiabank restated an “average” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.25.



NYSE RY opened at $78.42 on Wednesday. Royal Bank of Canada has a 1 year low of $65.76 and a 1 year high of $81.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $112.62 billion, a PE ratio of 12.01, a PEG ratio of 1.95 and a beta of 1.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Friday, February 22nd. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company earned $2.01 EPS. Analysts forecast that Royal Bank of Canada will post 6.69 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in RY. Resources Investment Advisors Inc. purchased a new stake in Royal Bank of Canada in the first quarter valued at approximately $30,000. CWM LLC raised its stake in Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 190 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $38,000. Oppenheimer Asset Management Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $38,000. Finally, WP Advisors LLC purchased a new stake in Royal Bank of Canada in the first quarter valued at approximately $38,000. 42.23% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: What is total return in investing?

Get a free copy of the Zacks research report on Royal Bank of Canada (RY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.