Royal Bank of Canada’s (RY) Hold Rating Reaffirmed at Canaccord Genuity

Canaccord Genuity reiterated their hold rating on shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in a research report report published on Thursday.

RY has been the topic of several other research reports. ValuEngine cut shares of Royal Bank of Canada from a hold rating to a sell rating in a report on Thursday, November 1st. Zacks Investment Research raised shares of Royal Bank of Canada from a sell rating to a hold rating in a report on Wednesday, July 25th. Barclays reaffirmed a sell rating on shares of Royal Bank of Canada in a report on Friday, November 16th. Scotia Howard Weill raised shares of Royal Bank of Canada from a sector perform rating to a sector outperform rating in a report on Monday, September 10th. Finally, Scotiabank raised shares of Royal Bank of Canada from a sector perform rating to an outperform rating in a report on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $96.25.

NYSE:RY traded down $0.86 during mid-day trading on Thursday, hitting $71.53. The stock had a trading volume of 21,502 shares, compared to its average volume of 673,878. The stock has a market cap of $104.31 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Royal Bank of Canada has a twelve month low of $69.99 and a twelve month high of $87.10. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.04. The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. On average, equities analysts anticipate that Royal Bank of Canada will post 6.47 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its holdings in Royal Bank of Canada by 40.8% during the third quarter. Advisors Asset Management Inc. now owns 2,659 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 771 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Royal Bank of Canada by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 40,432 shares of the financial services provider’s stock worth $3,044,000 after acquiring an additional 777 shares during the last quarter. Gradient Investments LLC grew its position in shares of Royal Bank of Canada by 2.6% during the third quarter. Gradient Investments LLC now owns 30,875 shares of the financial services provider’s stock worth $2,476,000 after acquiring an additional 796 shares during the last quarter. Chemical Bank grew its position in shares of Royal Bank of Canada by 17.0% during the second quarter. Chemical Bank now owns 5,543 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 805 shares during the last quarter. Finally, Raymond James Trust N.A. grew its position in shares of Royal Bank of Canada by 12.1% during the third quarter. Raymond James Trust N.A. now owns 7,950 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 859 shares during the last quarter. 40.36% of the stock is currently owned by institutional investors.

Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

Further Reading: Balanced Fund

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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