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

C$167.84

+0.06 (+0.04%)

(As of 09/27/2024 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 12 Analyst Ratings

Sell
0

Hold
2

Buy
10

Based on 12 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 12 analysts, 2 have given a hold rating, 8 have given a buy rating, and 2 have given a strong buy rating for RY.

Consensus Price Target

C$163.38
-2.65% Downside

According to the 12 analysts' twelve-month price targets for Royal Bank of Canada, the average price target is C$163.38. The highest price target for RY is C$180.00, while the lowest price target for RY is C$125.00. The average price target represents a forecasted downside of -2.65% from the current price of C$167.84.

Get the Latest News and Ratings for RY and Related Stocks

Enter your email address to receive the latest news and analysts' ratings for Royal Bank of Canada and its competitors.

RY Analyst Ratings Over Time

Type	Current Forecast 9/29/23 to 9/28/24	1 Month Ago 8/30/23 to 8/29/24	3 Months Ago 7/1/23 to 6/30/24	1 Year Ago 9/29/22 to 9/29/23
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	8 Buy rating(s)	9 Buy rating(s)	9 Buy rating(s)	5 Buy rating(s)
Hold	2 Hold rating(s)	2 Hold rating(s)	4 Hold rating(s)	4 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	C$163.38	C$161.50	C$144.50	C$134.03
Forecasted Upside	-2.65% Downside	0.47% Upside	-0.79% Downside	12.92% Upside
Consensus Rating	Buy	Buy	Moderate Buy	Hold

Retire off just one stock ticker? (Ad)

ONE AI Stock is All You Need... There are over 6,000 stocks listed in the market right now. They will NOT make you rich. However, there is one stock that stands head and shoulders above everything else. It's currently trading for only $15...

Click here for the ticker >>>

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	Financial Services Companies
Consensus Rating Score	3.00	2.63
Consensus Rating	Buy	Moderate Buy
News Sentiment Rating	Neutral News See Recent RY 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
9/6/2024	CIBC 3 of 5 stars		Boost Target		C$166.00 ➝ C$167.00	+2.13%
8/29/2024	BMO Capital Markets 4 of 5 stars	S. Movahedi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Strong-Buy	C$151.00 ➝ C$165.00	+2.50%
8/29/2024	Bank of America 4 of 5 stars		Boost Target		C$162.00 ➝ C$180.00	+11.82%
8/29/2024	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$159.50 ➝ C$172.00	+6.85%
8/29/2024	Cormark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$166.00 ➝ C$171.00	+6.22%
8/29/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$160.00 ➝ C$169.00	+4.98%
Man who Predicted Trump 2016 Win: “Prepare for Election Meltdown” (Ad) Former advisor to the CIA, the Pentagon and the White House Jim Rickards went on multiple TV news programs… A predicted Trump would win. You won’t believe what he’s predicting now. Click here to see it because it’s a SHOCKER…
8/29/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$171.00 ➝ C$178.00	+10.57%
8/20/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$145.00 ➝ C$150.00	-1.96%
8/19/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$157.00 ➝ C$154.00	+0.04%
8/12/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy	C$168.00 ➝ C$165.00	+10.74%
8/6/2024	Desjardins Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	C$156.00 ➝ C$163.00	+10.97%
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	Set Target	Buy	C$165.00	+12.77%
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	Upgrade	Strong-Buy
11/23/2023	Keefe, Bruyette & Woods Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Market Perform	C$127.00 ➝ C$125.00	+4.62%
9/12/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Outperform	C$138.00	+13.76%
8/25/2023	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Reduce	C$140.00 ➝ C$122.00	+1.14%
8/25/2023	Morningstar Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	C$129.00 ➝ C$130.00	+7.77%
8/25/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$138.00 ➝ C$139.00	+15.01%
6/6/2023	Fundamental Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Buy	C$134.43	+9.04%
5/26/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$142.00 ➝ C$136.00	+10.47%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 05:12 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 Wednesday, September 11, 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:

Strong Quarterly Earnings: Royal Bank of Canada reported C$3.26 EPS for the quarter, surpassing the consensus estimate by C$0.31. This indicates robust financial performance.
Consistent Dividend Payout: The company recently announced a quarterly dividend of $1.42 per share, with a dividend yield of 3.41%. This consistent dividend payout can provide a steady income stream for investors.
Positive Analyst Ratings: Several analysts have given Royal Bank of Canada a "buy" or "strong buy" rating, with price targets indicating potential growth in the stock value.
Increasing Price Targets: Analysts have been raising their price targets for Royal Bank of Canada, suggesting confidence in the company's future performance and potential for stock price appreciation.
Global Presence: Royal Bank of Canada operates as a diversified financial service company worldwide, providing investors with exposure to international markets and opportunities for growth.

Royal Bank of Canada
Bear Case

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

Market Volatility: The financial sector, including banking stocks like Royal Bank of Canada, can be sensitive to market fluctuations and economic uncertainties, potentially leading to volatility in stock prices.
Regulatory Risks: As a financial service company, Royal Bank of Canada is subject to regulatory changes and compliance requirements, which could impact its operations and profitability.
Competition: The banking industry is highly competitive, with other financial institutions vying for market share and customer loyalty, posing challenges for Royal Bank of Canada's growth and profitability.
Interest Rate Environment: Changes in interest rates can affect banks' profitability, as they influence borrowing costs and investment returns, potentially impacting Royal Bank of Canada's financial performance.
Macroeconomic Factors: Economic conditions, both domestically and globally, can impact the banking sector, affecting loan demand, credit quality, and overall financial stability, which may influence Royal Bank of Canada's performance.

RY Forecast - Frequently Asked Questions

: According to the research reports of 12 Wall Street equities research analysts, the average twelve-month stock price forecast for Royal Bank of Canada is C$163.38, with a high forecast of C$180.00 and a low forecast of C$125.00.
: 12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last year. There are currently 2 hold ratings, 8 buy ratings and 2 strong buy ratings 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 downside of -2.65% based on their 12-month stock forecasts.
: Royal Bank of Canada has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Canaccord Genuity Group, CIBC, Cormark, Desjardins, Jefferies Financial Group, National Bankshares, Scotiabank, TD Securities, and UBS Group in the past 90 days.
: Analysts like Royal Bank of Canada more than other "financial services" companies. The consensus rating for Royal Bank of Canada is Buy while the average consensus rating for "financial services" companies is Moderate Buy. Learn more on how RY compares to other companies.

Stock Forecasts and Research Tools

Related Companies:

Today's Ratings:

Top Rated Stocks:

More Ratings Tools:

Man who Predicted Trump 2016 Win: “Prepare for Election Meltdown” (Ad)

Former advisor to the CIA, the Pentagon and the White House Jim Rickards went on multiple TV news programs… A predicted Trump would win. You won’t believe what he’s predicting now.

Click here to see it because it’s a SHOCKER…

This page (TSE:RY) was last updated on 9/28/2024 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

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