RBC Receives Average Rating of 'Moderate Buy' Amid Strong Earnings

Royal Bank of Canada (NYSE:RY) has received an average rating of 'Moderate Buy' from the fourteen firms covering it, according to MarketBeat. This consensus comes after five analysts recommended a hold on the stock, while eight suggested buying and one strongly advised purchase. The average price target among these brokerages is $225.00 per share.

The bank's recent quarterly earnings report exceeded expectations with a profit of $3.07 per share, surpassing analyst estimates by $0.18. Revenue for the quarter was $13.22 billion, beating forecasts of $12.98 billion. The company also declared a quarterly dividend of $1.76 per share on November 24th.

Royal Bank of Canada has a significant presence in Canada's financial sector and operates across various business segments including personal and commercial banking, wealth management, insurance, and global asset management.