Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) had its price objective dropped by analysts at Bank of America from C$141.00 to C$130.00 in a research report issued to clients and investors on Friday, BayStreet.CA reports. Bank of America‘s price target indicates a potential upside of 5.45% from the company’s current price.
Several other brokerages also recently commented on RY. Cormark cut their price objective on Royal Bank of Canada from C$152.00 to C$142.00 in a research report on Friday. Barclays decreased their target price on shares of Royal Bank of Canada from C$124.00 to C$122.00 in a research note on Friday. Veritas Investment Research reaffirmed a “buy” rating on shares of Royal Bank of Canada in a report on Monday, February 27th. Scotiabank dropped their price target on shares of Royal Bank of Canada from C$146.00 to C$143.00 in a research note on Friday. Finally, Credit Suisse Group reduced their price objective on shares of Royal Bank of Canada from C$149.00 to C$141.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of C$138.18.
Royal Bank of Canada Stock Up 1.5 %
TSE RY traded up C$1.80 during trading on Friday, hitting C$123.28. 1,298,729 shares of the stock traded hands, compared to its average volume of 4,731,466. The company has a market capitalization of C$171.36 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 4.62 and a beta of 0.74. Royal Bank of Canada has a 12-month low of C$116.75 and a 12-month high of C$140.18. The firm has a 50-day simple moving average of C$130.14 and a 200-day simple moving average of C$132.25.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; 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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