Royal Bank of Canada (RY) Stock Forecast & Price Target

$124.15 -0.17 (-0.14%)

(As of 11/26/2024 ET)

Royal Bank of Canada - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 8 Analyst Ratings

Sell
0

Hold
1

Buy
7

Based on 8 Wall Street analysts who have issued ratings for Royal Bank of Canada in the last 12 months, the stock has a consensus rating of "Buy." Out of the 8 analysts, 1 has given a hold rating, 6 have given a buy rating, and 1 has given a strong buy rating for RY.

Consensus Price Target

$142.50
14.78% Upside

According to the 8 analysts' twelve-month price targets for Royal Bank of Canada, the average price target is $142.50. The highest price target for RY is $165.00, while the lowest price target for RY is $120.00. The average price target represents a forecasted upside of 14.78% from the current price of $124.15.

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RY Analyst Ratings Over Time

Type	Current Forecast 11/27/23 to 11/26/24	1 Month Ago 10/28/23 to 10/27/24	3 Months Ago 8/29/23 to 8/28/24	1 Year Ago 11/27/22 to 11/27/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	5 Buy rating(s)	4 Buy rating(s)	2 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	2 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$142.50	$142.50	$135.00	$131.50
Forecasted Upside	14.78% Upside	16.36% Upside	13.60% Upside	51.57% Upside
Consensus Rating	Buy	Buy	Moderate Buy	Hold

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RY Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

RY Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Royal Bank of Canada Stock vs. The Competition

Type	Royal Bank of Canada	Finance Companies	S&P 500
Consensus Rating Score	3.00	2.49	2.50
Consensus Rating	Buy	Hold	Moderate Buy
Predicted Upside	14.78% Upside	9.48% Upside	6.71% Upside
News Sentiment Rating	Positive News See Recent RY News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/21/2024	Barclays 3 of 5 stars	B. Morton Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Equal Weight ➝ Overweight
11/15/2024	TD Securities 4 of 5 stars	M. Mendonca Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold
8/29/2024	BMO Capital Markets 4 of 5 stars	S. Movahedi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$151.00 ➝ $165.00	+37.17%
7/2/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Shea Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy
6/6/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Biggar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$115.00 ➝ $120.00	+12.09%
5/17/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Grauman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/13/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy
12/18/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy
8/25/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$138.00 ➝ $139.00	+56.43%
5/16/2023	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Sector Outperform ➝ Neutral
2/7/2023	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$145.00 ➝ C$147.00
12/1/2022	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$148.00 ➝ C$147.00
12/1/2022	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Scott Chan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	C$131.00 ➝ C$136.00
12/1/2022	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating	Mike Rizvanovic Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Underperform ➝ Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 09:09 PM ET.

Should I Buy Royal Bank of Canada Stock? RY Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, November 22, 2024. Please send any questions or comments about these Royal Bank of Canada pros and cons to contact@marketbeat.com.

Royal Bank of Canada
Bull Case

Here are some ways that investors could benefit from investing in Royal Bank of Canada:

Royal Bank of Canada has recently received an "outperform" rating from BMO Capital Markets, with an increased price target of $165.00, indicating strong potential for growth.
The stock is currently priced at $125.02, which is close to its 12-month high of $126.96, suggesting it is performing well in the market.
The company reported earnings per share (EPS) of $2.38, exceeding the consensus estimate of $2.15, which reflects strong financial performance and profitability.
Royal Bank of Canada has a solid market capitalization of approximately $176.74 billion, indicating stability and a strong position in the financial services sector.
The dividend yield is currently at 3.29%, with a quarterly dividend of $1.028, providing a steady income stream for investors.

Royal Bank of Canada
Bear Case

Investors should be bearish about investing in Royal Bank of Canada for these reasons:

TD Securities recently downgraded the stock from a "buy" to a "hold" rating, which may indicate concerns about future performance.
Despite a strong EPS report, the company's price-to-earnings (P/E) ratio is 15.12, which could suggest that the stock is overvalued compared to its earnings.
The stock has experienced a slight decline of 0.1% recently, which may signal volatility and uncertainty in the market.
Royal Bank of Canada has a debt-to-equity ratio of 0.12, which, while low, indicates that the company is not leveraging debt to fuel growth, potentially limiting expansion opportunities.
Recent changes in institutional holdings, such as AMG National Trust Bank reducing its stake by 25.3%, may reflect a lack of confidence among some investors.

RY Forecast - Frequently Asked Questions

: According to the research reports of 8 Wall Street equities research analysts, the average twelve-month stock price forecast for Royal Bank of Canada is $142.50, with a high forecast of $165.00 and a low forecast of $120.00.
: 8 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last year. There is currently 1 hold rating, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" RY shares.
: According to analysts, Royal Bank of Canada's stock has a predicted upside of 14.78% based on their 12-month stock forecasts.
: Over the previous 90 days, Royal Bank of Canada's stock had 1 upgrade and 1 downgrade by analysts.
: Royal Bank of Canada has been rated by research analysts at Barclays, BMO Capital Markets, and TD Securities in the past 90 days.
: Royal Bank of Canada also publishes sell-side equities research reports and recommendations about other companies, which can be viewed at its brokerage rating page.
: Analysts like Royal Bank of Canada more than other "finance" companies. The consensus rating for Royal Bank of Canada is Buy while the average consensus rating for "finance" companies is Hold. Learn more on how RY compares to other companies.

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This page (NYSE:RY) was last updated on 11/26/2024 by MarketBeat.com Staff

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Royal Bank of Canada (RY) Stock Forecast & Price Target