Royal Bank of Canada (RY), the Financial sector company was revisited yesterday, yet the Wall Street analyst remains currently on the sidelines. The company received a Hold rating from BMO Capital’s analyst Sohrab Movahedi, with a C$114 price target.
According to TipRanks.com, Movahedi is a 3-star analyst with an average return of 3.8% and a 50.0% success rate. Movahedi covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Toronto Dominion Bank, and Canadian Western Bank.
Currently, the analyst consensus on Royal Bank of Canada is a Hold with an average price target of C$109.40, representing a 6.6% upside. In a report issued on May 15, Canaccord Genuity also reiterated a Hold rating on the stock with a C$105 price target.
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Based on Royal Bank of Canada’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of C$16.84 billion and net profit of C$3.17 billion. In comparison, last year the company earned revenue of C$13.48 billion and had a net profit of C$3.05 billion.
Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking; Wealth Management; Insurance; Investor and Treasury Services; Capital Markets; and Corporate Support.
The company’s shares closed on Thursday at C$102.64.
