Royal Bank Of Canada (NYSE:RY) finished Wednesday with a subtraction of -$1.08 to close at $86.85, a downside of -1.23 percent. An average of 901,980 shares of common stock have been traded in the last five days. There was a fall of -$4.28 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 724,160 shares traded, while the 50-day average volume stands at 961,598.
RY stock has decreased by -3.16% in the last month. The company shares reached their 1-month lowest point of $86.64 on 09/27/23. With the stock rallying to its 52-week high on 02/09/23, shares of the company touched a low of $83.63 and a high of $104.72 in 52 weeks. It has reached a new high 17 times so far this year and lost -7.63% or -$7.17 in price. In spite of this, the price is down -17.06% from the 52-week high.
Valuation Metrics
Royal Bank Of Canada (RY) has a trailing price-to-earnings (P/E) ratio of 11.27. The stock’s beta is 0.82. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.51, the price-to-book (PB) ratio at 1.52, and the price-to-cash flow ratio at 1.94.
The company has a payout ratio of 44.78%. The company’s most recent quarterly dividend payment was $1.0190 a share, representing a up of 2.31% from $0.9960 last year.
Financial Health
Further, the company has a long term debt to equity ratio of 0.43 and a total debt to equity ratio of 3.48 for the quarter ending July 30. Its gross profit as reported stood at $17.65 billion compared to revenue of $31.67 billion.
Earnings Surprise
The analyst consensus anticipated Royal Bank Of Canada’s latest quarter earnings to come in at $2 per share, but it turned out to be $2.11, a 5.50% surprise. At the end of the quarter ending July 30, Royal Bank Of Canada’s stock balance sheet showed total debt was $462.91 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Royal Bank Of Canada (RY) price momentum. RSI 9-day as of the close on 27 September was 26.85%, suggesting the stock is oversold, with historical volatility in this time frame at 11.44%.
As of today, RY’s price is $88.60 -4.70% or -$4.28 from its 5-day moving average. RY is currently trading -3.95% lower than its 20-day SMA and -9.06% lower than its 100-day SMA. However, the stock’s current price level is -11.77% below the SMA50 and -10.13% below the SMA200.
The stochastic %K and %D were 19.24% and 30.36%, respectively, and the average true range (ATR) was 1.30. With the 14-day stochastic at 3.85% and the average true range at 1.29, the RSI (14) stands at 31.98%. The stock has reached -1.69 on the 9-day MACD Oscillator while the 14-day reading was at -1.59.
Analyst Ratings
CIBC downgraded Royal Bank Of Canada (NYSE: RY) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sector outperform. The consensus rating for Royal Bank Of Canada (RY) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RY, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is RY’s price target for the next 12 months?
Analysts predict a range of price targets between $90.39 and $100.00, with a median target of $96.00. Taking a look at these predictions, the average price target given by analysts for Royal Bank Of Canada (RY) stock is $95.46.
