CIBC Trims Royal Bank of Canada (TSE:RY) Target Price to C$139.00

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) had its target price dropped by investment analysts at CIBC from C$142.00 to C$139.00 in a research note issued on Friday, BayStreet.CA reports. CIBC’s price objective points to a potential upside of 12.75% from the company’s previous close.

RY has been the subject of a number of other reports. Barclays decreased their target price on Royal Bank of Canada from C$124.00 to C$122.00 in a research note on Friday. Fundamental Research set a C$140.25 target price on Royal Bank of Canada and gave the company a “buy” rating in a research note on Tuesday, March 14th. Veritas Investment Research restated a “buy” rating on shares of Royal Bank of Canada in a research report on Monday, February 27th. Cormark cut their price objective on shares of Royal Bank of Canada from C$152.00 to C$142.00 in a research report on Friday. Finally, National Bank Financial dropped their price target on shares of Royal Bank of Canada from C$142.00 to C$136.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of C$138.18.

Royal Bank of Canada Stock Up 1.5 %

Shares of TSE RY traded up C$1.80 during trading on Friday, reaching C$123.28. 1,298,729 shares of the stock were exchanged, compared to its average volume of 4,731,466. The company has a market capitalization of C$171.36 billion, a price-to-earnings ratio of 11.72, a price-to-earnings-growth ratio of 4.62 and a beta of 0.74. Royal Bank of Canada has a twelve month low of C$116.75 and a twelve month high of C$140.18. The business’s 50-day moving average price is C$130.14 and its 200 day moving average price is C$132.25.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last released its quarterly earnings data on Wednesday, March 1st. The financial services provider reported C$3.05 EPS for the quarter, topping analysts’ consensus estimates of C$2.92 by C$0.13. Royal Bank of Canada had a net margin of 29.76% and a return on equity of 14.23%. The firm had revenue of C$15.09 billion during the quarter, compared to the consensus estimate of C$13.07 billion. As a group, sell-side analysts expect that Royal Bank of Canada will post 11.5522252 earnings per share for the current fiscal year.

Royal Bank of Canada Company Profile

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Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.