Royal Bank of Canada (TSX: RY), the Financial sector company was revisited on August 23, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold on August 23 from BMO Capital’s analyst Sohrab Movahedi, with a C$110 price target.
According to TipRanks.com, Movahedi is ranked #1267 out of 4866 analysts.
Currently, the analyst consensus on Royal Bank of Canada is a Hold with an average price target of C$107.67, implying a 3.9% upside from current levels. In a report issued on August 22, Canaccord Genuity also assigned a Hold rating to the stock with a C$109 price target.
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Based on Royal Bank of Canada’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of C$15.08 billion and net profit of C$3.1 billion. In comparison, last year the company earned revenue of C$12.52 billion and had a net profit of C$2.78 billion.
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following business segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support.
The company’s shares closed on Friday at C$103.64.
