National Bankshares Forecasts Strong Price Appreciation for Royal Bank of Canada (TSE:RY) Stock

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by investment analysts at National Bankshares from C$169.00 to C$181.00 in a research report issued on Wednesday,BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 3.57% from the company’s previous close.

Several other research firms have also recently commented on RY. Bank of America lifted their target price on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research note on Thursday, August 29th. Jefferies Financial Group lowered their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Scotiabank lowered their price objective on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$178.00 to C$180.00 in a research note on Friday, November 15th. Finally, Desjardins boosted their price objective on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$168.00.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at C$174.76 on Wednesday. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.04. The company has a market capitalization of C$246.41 billion, a P/E ratio of 15.48, a P/E/G ratio of 3.42 and a beta of 0.84. The business has a 50 day moving average price of C$169.86 and a 200 day moving average price of C$156.49.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The firm 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 return on equity of 13.68% and a net margin of 28.67%. As a group, research analysts expect that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insiders Place Their Bets

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,198.75. This trade represents a 99.85 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction that occurred on 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 have sold 144,770 shares of company stock worth $23,959,265 in the last quarter.

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.