Royal Bank of Canada (NYSE: RY) is -5.23% lower on its value in year-to-date trading and has touched a low of $83.63 and a high of $106.43 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RY stock was last observed hovering at around $91.10 in the last trading session, with the day’s loss setting it -2.0% off its average median price target of $99.51 for the next 12 months. It is also 13.51% off the consensus price target high of $103.02 offered by 7 analysts, but current levels are 7.19% higher than the price target low of $96.00 for the same period.
Currently trading at $89.10, the stock is -7.30% and -7.50% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.92 million and changing -2.20% at the moment leaves the stock -7.76% off its SMA200. RY registered -11.33% loss for a year compared to 6-month loss of -11.62%.
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The stock witnessed a -8.09% gain in the last 1 month and extending the period to 3 months gives it a -11.65%, and is -6.01% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.76% over the week and 1.54% over the month.
Royal Bank of Canada (RY) has around 92662 employees, a market worth around $124.19B and $39.06B in sales. Current P/E ratio is 11.45 and Fwd P/E is 7.13. Profit margin for the company is 27.80%. Distance from 52-week low is 6.54% and -16.28% from its 52-week high. The company has generated returns on investments over the last 12 months (4.20%).
Royal Bank of Canada (RY) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Royal Bank of Canada (RY) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.30, where 3 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Royal Bank of Canada is expected to release its quarterly report on 08/24/2023.The EPS is expected to shrink by 0.00% this year
Royal Bank of Canada (RY) Top Institutional Holders
The shares outstanding are 1.38B, and float is at 1.37B with Short Float at 1.81%.
Royal Bank of Canada (RY): Who are the competitors?
The company’s main competitors (and peers) include Bank of America Corporation (BAC) that is trading -20.98% down over the past 12 months and The Toronto-Dominion Bank (TD) that is -20.96% lower over the same period.