Royal Bank of Canada (TSE:RY) Rating Lowered to Neutral at CIBC

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a report released on Thursday, February 1st. They presently have a C$114.00 price target on the financial services provider’s stock, up from their prior price target of C$113.00. CIBC’s target price points to a potential upside of 13.46% from the company’s previous close.

Several other equities analysts have also issued reports on RY. CSFB lifted their price target on shares of Royal Bank of Canada from C$108.00 to C$114.00 in a report on Friday, January 19th. Eight Capital lifted their price target on shares of Royal Bank of Canada from C$105.00 to C$107.00 in a report on Thursday, November 30th. Desjardins lifted their price target on shares of Royal Bank of Canada from C$108.00 to C$109.00 in a report on Thursday, November 30th. Canaccord Genuity lifted their price target on shares of Royal Bank of Canada from C$105.00 to C$108.00 in a report on Thursday, November 30th. Finally, Citigroup lifted their price target on shares of Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of C$108.17.

Royal Bank of Canada (RY) opened at C$100.48 on Thursday. The stock has a market cap of $146,790.00, a P/E ratio of 13.29 and a beta of 0.71. Royal Bank of Canada has a 1-year low of C$90.13 and a 1-year high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a net margin of 26.20% and a return on equity of 16.63%.

In related news, Director Jeffery William Yabuki acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were purchased at an average cost of C$79.63 per share, with a total value of C$79,630.00. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of C$101.73, for a total transaction of C$753,107.19. Insiders have sold 13,835 shares of company stock worth $1,448,535 over the last three months.

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About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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

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