Royal Bank of Canada (TSE:RY) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) from a hold rating to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research analysts have also commented on RY. Desjardins raised their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Cormark raised their price target on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Scotiabank reduced their price objective on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Finally, Jefferies Financial Group reduced their price objective on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$171.58.

Royal Bank of Canada Price Performance

RY opened at C$174.71 on Thursday. The firm has a market capitalization of C$246.34 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company’s 50 day simple moving average is C$170.00 and its two-hundred day simple moving average is C$156.75. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.32.

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

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd were paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

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

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.