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

C$171.13 -0.92 (-0.53%)

(As of 11/15/2024 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

Moderate Buy

Based on 12 Analyst Ratings

Sell
0

Hold
3

Buy
9

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 "Moderate Buy." Out of the 12 analysts, 3 have given a hold rating, 7 have given a buy rating, and 2 have given a strong buy rating for RY.

Consensus Price Target

C$163.54
-4.44% Downside

According to the 12 analysts' twelve-month price targets for Royal Bank of Canada, the average price target is C$163.54. 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 -4.44% from the current price of C$171.13.

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RY Analyst Ratings Over Time

Type	Current Forecast 11/18/23 to 11/17/24	1 Month Ago 10/19/23 to 10/18/24	3 Months Ago 8/20/23 to 8/19/24	1 Year Ago 11/18/22 to 11/18/23
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	7 Buy rating(s)	8 Buy rating(s)	10 Buy rating(s)	6 Buy rating(s)
Hold	3 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$163.54	C$163.38	C$146.59	C$134.16
Forecasted Upside	-4.44% Downside	-6.14% Downside	-4.67% Downside	11.35% Upside
Consensus Rating	Moderate 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	Financial Services Companies
Consensus Rating Score	2.92	2.63
Consensus Rating	Moderate 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
11/15/2024	TD Securities 4 of 5 stars	M. Mendonca Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	C$178.00 ➝ C$180.00	+5.65%
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 Subscribe to MarketBeat All Access for the recommendation accuracy rating		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%
Get the Latest News and Ratings for RY and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Royal Bank of Canada and its competitors with MarketBeat's FREE daily newsletter.
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%
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 Sunday at 05:25 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 Saturday, November 2, 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 last quarter, surpassing analysts' estimates by C$0.31. This indicates a healthy financial performance.
Consistent Dividend Payout: The company recently declared a quarterly dividend of $1.42 per share, representing a yield of 3.42%. A consistent dividend payout can provide investors with a steady income stream.
Positive Analyst Ratings: Multiple research firms have given Royal Bank of Canada a "buy" or "strong buy" rating, with price targets indicating potential growth in the stock value.
Insider Trading Activity: Senior Officer Douglas Antony Guzman has been actively selling shares, which could indicate confidence in the company's future performance.
Stable Stock Performance: Royal Bank of Canada's stock has been trading near its 12-month high, suggesting market confidence in the company's stability and growth prospects.

Royal Bank of Canada
Bear Case

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

High Price-to-Earnings Ratio: With a price-to-earnings ratio of 14.72, the stock may be considered relatively expensive compared to industry peers, potentially limiting short-term gains.
Price Volatility: The stock has experienced fluctuations in price, which could lead to increased risk for investors seeking stable returns.
Market Uncertainty: Economic conditions and regulatory changes could impact the financial sector, affecting Royal Bank of Canada's performance and stock value.
Competitive Landscape: Intense competition in the financial services industry may pose challenges for Royal Bank of Canada to maintain market share and profitability.
Dividend Payout Ratio: The dividend payout ratio of 50.31% indicates that a significant portion of earnings is distributed as dividends, potentially limiting reinvestment for growth.

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$163.54, with a high forecast of C$180.00 and a low forecast of C$125.00.
: 12 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Royal Bank of Canada in the last year. There are currently 3 hold ratings, 7 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" RY shares.
: According to analysts, Royal Bank of Canada's stock has a predicted downside of -4.44% based on their 12-month stock forecasts.
: Over the previous 90 days, Royal Bank of Canada's stock had 1 downgrade by analysts.
: Royal Bank of Canada has been rated by research analysts at Bank of America, Barclays, BMO Capital Markets, Canaccord Genuity Group, CIBC, Cormark, National Bankshares, Scotiabank, and TD Securities in the past 90 days.
: Analysts like Royal Bank of Canada more than other "financial services" companies. The consensus rating score for Royal Bank of Canada is 2.92 while the average consensus rating score for "financial services" companies is 2.63. Learn more on how RY compares to other companies.

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This page (TSE:RY) was last updated on 11/17/2024 by MarketBeat.com Staff

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