Royal Bank of Canada (TSE: RY) Given the average ‘buy’ recommendation by analysts


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The Royal Bank of Canada (TSE: RY) (NYSE: RY) has received a consensus recommendation to “Buy” from the thirteen brokerages that cover the stock, reports Marketbeat.com. One research analyst rated the stock with a keep recommendation and seven issued a buy recommendation on the company. The 12-month average price target among brokerages that reported on the stock in the past year is C $ 140.61.

RY has been the subject of several recent research reports. Cormark increased its price target on Royal Bank of Canada from C $ 144.00 to C $ 147.00 and gave the stock a “buy” rating in a report released Thursday, August 26. National Bankshares raised its price target on Royal Bank of Canada from C $ 140.00 to C $ 144.00 in a research note on Thursday, August 26. Scotiabank raised its price target for Royal Bank of Canada from C $ 144.00 to C $ 148.00 in a research note on Tuesday, August 17. Credit Suisse Group reaffirmed an “outperformance” rating on Royal Bank of Canada stocks in a research note on Thursday, September 2. Finally, CSFB raised its price target on the Royal Bank of Canada from CA $ 140.00 to CA $ 144.00 in a research note on Wednesday, September 1.

Shares of TSE: RY opened at C $ 130.70 on Friday. The stock has a market capitalization of C $ 186.21 billion and a price-to-earnings ratio of 12.31. The Royal Bank of Canada has a one-year low of C $ 102.74 and a one-year high of C $ 134.23. The company has a 50-day moving average price of CA $ 129.98 and a 200-day moving average price of CA $ 127.99.

The Royal Bank of Canada (TSE: RY) (NYSE: RY) last reported its quarterly results on Wednesday, August 25. The financial services provider reported earnings per share of C $ 3.00 for the quarter, beating the consensus estimate of C $ 2.72 by C $ 0.28 by Thomson Reuters. The company reported sales of C $ 12.76 billion for the quarter, compared to the consensus estimate of C $ 11.37 billion. Sell-side analysts expect Royal Bank of Canada to post EPS of 11.229999 for the current fiscal year.

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Man voted “# 1 most trusted crypto expert” shares his latest buy recommendation.

In other Royal Bank of Canada news, Director David Ian Mckay sold 5,322 shares of the company in a transaction that took place on Friday, November 19. The stock was sold for an average price of C $ 131.68, for a total trade of C $ 700,799.90. Following the closing of the transaction, the Director now owns 5,873 shares of the company, valued at approximately C $ 773,355.47. Additionally, Senior Officer Rod Bolger sold 536 shares of the company in a trade that took place on Friday, October 22. The stock was sold for an average price of C $ 133.21, for a total value of C $ 71,401.04. As a result of the transaction, the insider now directly owns 4,570 shares of the company, valued at approximately C $ 608,773.81. In the past three months, insiders have sold 17,053 shares of the company valued at $ 2,222,843.

About the Royal Bank of Canada

Royal Bank of Canada is a globally diversified financial services company. The Company’s Personal and Commercial Banking segment offers chequing and savings accounts, home equity financing, personal loans, private banking, indirect loans, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards and payment products and solutions; and loan, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, commercial products and services to small and medium-sized commercial enterprises.

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Analyst Recommendations for the Royal Bank of Canada (TSE: RY)

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