StockNews.com Downgrades Royal Bank of Canada (NYSE:RY) to Sell

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other research firms also recently issued reports on RY. Barclays began coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. Argus raised their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. UBS Group assumed coverage on shares of Royal Bank of Canada in a research report on Tuesday. They issued a “buy” rating for the company. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Scotiabank raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.25.

Royal Bank of Canada Price Performance

RY stock opened at $109.02 on Wednesday. The stock has a market cap of $154.27 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $109.60. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $104.39 and a 200 day moving average price of $100.94.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.12. Royal Bank of Canada had a net margin of 12.12% and a return on equity of 14.87%. The business had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $9.95 billion. Equities research analysts anticipate that Royal Bank of Canada will post 8.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Royal Bank of Canada

A number of hedge funds have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its position in Royal Bank of Canada by 38.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,070 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 298 shares during the period. Transcend Capital Advisors LLC boosted its stake in shares of Royal Bank of Canada by 6.2% in the second quarter. Transcend Capital Advisors LLC now owns 2,322 shares of the financial services provider’s stock valued at $247,000 after buying an additional 136 shares in the last quarter. Old Port Advisors boosted its stake in shares of Royal Bank of Canada by 6.1% in the first quarter. Old Port Advisors now owns 18,136 shares of the financial services provider’s stock valued at $1,830,000 after buying an additional 1,039 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Royal Bank of Canada by 52.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,088 shares of the financial services provider’s stock worth $105,000 after acquiring an additional 372 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in Royal Bank of Canada by 11.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 949,599 shares of the financial services provider’s stock worth $95,313,000 after acquiring an additional 100,900 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

About Royal Bank of Canada

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