Royal Bank of Canada (NYSE:RY) Price Target Lowered to C$140.00 at BMO Capital Markets

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) had its price target decreased by BMO Capital Markets from C$142.00 to C$140.00 in a research note released on Friday, The Fly reports.

Several other research firms also recently issued reports on RY. CIBC raised shares of Royal Bank of Canada from a neutral rating to a sector outperform rating in a report on Monday, April 11th. Canaccord Genuity Group downgraded shares of Royal Bank of Canada from a buy rating to a hold rating and increased their price objective for the company from $141.00 to $148.00 in a report on Monday, February 7th. Stifel Nicolaus decreased their price objective on shares of Royal Bank of Canada from C$152.00 to C$150.00 in a report on Friday, April 8th. National Bank Financial increased their price objective on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Friday. Finally, Canaccord Genuity Group downgraded shares of Royal Bank of Canada from a buy rating to a hold rating and increased their price objective for the company from $141.00 to $148.00 in a report on Monday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of Buy and an average price target of $144.05.

RY stock opened at $103.04 on Friday. The firm has a market cap of $144.62 billion, a PE ratio of 11.46, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The firm’s fifty day moving average is $105.21 and its 200 day moving average is $107.35. Royal Bank of Canada has a one year low of $95.02 and a one year high of $119.41.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last released its quarterly earnings results on Thursday, February 24th. The financial services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $2.15 by $0.13. The company had revenue of $10.37 billion for the quarter. Royal Bank of Canada had a net margin of 28.16% and a return on equity of 18.28%. Research analysts predict that Royal Bank of Canada will post 8.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be paid a dividend of $0.995 per share. The ex-dividend date is Monday, July 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents a $3.98 dividend on an annualized basis and a yield of 3.86%. Royal Bank of Canada’s payout ratio is 42.71%.

Hedge funds have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth about $37,000. Stonehage Fleming Financial Services Holdings Ltd raised its stake in Royal Bank of Canada by 54.0% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 135 shares during the period. Allegheny Financial Group LTD purchased a new position in Royal Bank of Canada during the fourth quarter worth about $48,000. JFS Wealth Advisors LLC raised its stake in Royal Bank of Canada by 272.4% during the first quarter. JFS Wealth Advisors LLC now owns 473 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 346 shares during the period. Finally, Cullen Frost Bankers Inc. purchased a new position in Royal Bank of Canada during the first quarter worth about $55,000. 41.50% of the stock is currently owned by institutional investors.

About Royal Bank of Canada (Get Rating)

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.

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