Brokerages Set Royal Bank of Canada (NYSE:RY) Target Price at $142.50

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY has received an average rating of "Buy" from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $142.50.

A number of analysts have recently weighed in on the stock. Barclays upgraded shares of Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a report on Thursday. TD Securities downgraded shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Finally, BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, August 29th.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $125.02 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $176.74 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.93 and a beta of 0.86. The firm's fifty day moving average is $123.39 and its two-hundred day moving average is $114.56. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. As a group, analysts anticipate that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th were given a $1.028 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.29%. Royal Bank of Canada's dividend payout ratio (DPR) is 50.79%.

Institutional Investors Weigh In On Royal Bank of Canada

Several hedge funds have recently modified their holdings of RY. FMR LLC lifted its position in shares of Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares during the period. National Bank of Canada FI lifted its position in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider's stock worth $2,141,681,000 after purchasing an additional 2,901,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Royal Bank of Canada by 165.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth approximately $153,217,000. Finally, Geode Capital Management LLC raised its stake in shares of Royal Bank of Canada by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider's stock worth $805,616,000 after acquiring an additional 541,760 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

About Royal Bank of Canada

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.