Royal Bank of Canada (NYSE:RY) Rating Increased to Sector Outperform at Howard Weil

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by equities research analysts at Howard Weil from a “sector perform” rating to a “sector outperform” rating in a research note issued on Monday, September 10th, MarketBeat.com reports.

Several other research firms have also recently weighed in on RY. National Bank Financial upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report on Monday, June 4th. Zacks Investment Research cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Friday, June 22nd. ValuEngine cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Macquarie upgraded shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $97.20.

Royal Bank of Canada stock traded down $0.48 during midday trading on Monday, hitting $79.48. 1,146,811 shares of the stock were exchanged, compared to its average volume of 724,443. Royal Bank of Canada has a 52-week low of $73.92 and a 52-week high of $87.10. The stock has a market cap of $115.58 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.60 and a beta of 1.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 22nd. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. Royal Bank of Canada had a net margin of 21.48% and a return on equity of 18.11%. The business had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.39 billion. As a group, analysts predict that Royal Bank of Canada will post 6.55 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RY. Franklin Street Advisors Inc. NC raised its position in shares of Royal Bank of Canada by 3.0% in the third quarter. Franklin Street Advisors Inc. NC now owns 69,292 shares of the financial services provider’s stock valued at $5,557,000 after purchasing an additional 2,020 shares during the period. Cardinal Capital Management Inc. raised its position in shares of Royal Bank of Canada by 1.0% in the third quarter. Cardinal Capital Management Inc. now owns 785,462 shares of the financial services provider’s stock valued at $62,915,000 after purchasing an additional 7,559 shares during the period. Northern Trust Corp raised its position in shares of Royal Bank of Canada by 4.0% in the second quarter. Northern Trust Corp now owns 1,357,212 shares of the financial services provider’s stock valued at $102,197,000 after purchasing an additional 51,957 shares during the period. Schroder Investment Management Group raised its position in shares of Royal Bank of Canada by 79.4% in the second quarter. Schroder Investment Management Group now owns 421,523 shares of the financial services provider’s stock valued at $41,655,000 after purchasing an additional 186,552 shares during the period. Finally, Advisors Asset Management Inc. raised its position in shares of Royal Bank of Canada by 154.4% in the second quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 1,146 shares during the period. Hedge funds and other institutional investors own 39.77% of the company’s stock.

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: Compound Annual Growth Rate (CAGR)

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

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