CIBC Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target increased by research analysts at CIBC from C$167.00 to C$176.00 in a research report issued on Tuesday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 1.08% from the company’s previous close.

Several other analysts have also recently issued reports on RY. Scotiabank increased their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday. Desjardins increased their target price on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Cormark increased their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, National Bankshares increased their target price on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Buy” and a consensus target price of C$175.92.

Royal Bank of Canada Stock Up 0.2 %

RY traded up C$0.35 on Tuesday, hitting C$174.12. The company’s stock had a trading volume of 560,262 shares, compared to its average volume of 4,843,919. The company’s 50 day simple moving average is C$170.11 and its 200-day simple moving average is C$156.99. The firm has a market cap of C$245.51 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.59.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,115. The trade was a 99.75 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders sold 144,770 shares of company stock valued at $23,959,265 over the last three months.

About Royal Bank of Canada

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.