The Royal Bank of Canada (RY) Receives Average Rating of “Hold” from Brokerages

The Royal Bank of Canada (RY) Receives Average Rating of “Hold” from Brokerages

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) have received a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the company. One research analyst has rated the stock with a sell rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$90.00.

RY has been the subject of a number of research reports. Canaccord Genuity boosted their target price on shares of Royal Bank of Canada from C$95.00 to C$99.00 in a research note on Friday, January 13th. TD Securities reissued a “buy” rating and set a C$96.00 target price on shares of Royal Bank of Canada in a research note on Thursday, December 1st. Scotiabank cut their target price on shares of Royal Bank of Canada from C$95.00 to C$93.00 and set an “outperform” rating for the company in a research note on Thursday, December 1st. BMO Capital Markets boosted their target price on shares of Royal Bank of Canada from C$85.00 to C$92.00 in a research note on Thursday, December 1st. Finally, CSFB boosted their target price on shares of Royal Bank of Canada from C$100.00 to C$101.00 in a research note on Tuesday.

In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 17,583 shares of the business’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of C$88.00, for a total value of C$1,547,304.00.

Shares of Royal Bank of Canada (TSE:RY) opened at 93.29 on Thursday. Royal Bank of Canada has a 52 week low of $64.52 and a 52 week high of $94.90. The company has a market cap of $138.56 billion and a P/E ratio of 13.77. The firm has a 50-day moving average of $91.32 and a 200 day moving average of $84.23.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, January 26th will be issued a $0.83 dividend. The ex-dividend date is Tuesday, January 24th. This represents a $3.32 annualized dividend and a yield of 3.56%.

Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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