Zacks Lowers RBC Capital to Sell (RY)

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Zacks lowered shares of RBC Capital (NYSE:RY) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Market reports.

According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “

Shares of RBC Capital (NYSE:RY) traded down 2.49% on Thursday, reaching $54.37. 574,873 shares of the company’s stock traded hands. The company has a market cap of $78.44 billion and a PE ratio of 11.03. The stock has a 50-day moving average price of $57.85 and a 200-day moving average price of $61.66. RBC Capital has a 12-month low of $51.27 and a 12-month high of $76.08.

RBC Capital (NYSE:RY) last announced its earnings results on Wednesday, August 26th. The company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $1.29 by $0.04. During the same quarter last year, the firm earned $1.62 EPS. Equities research analysts anticipate that RBC Capital will post $6.62 EPS for the current fiscal year.

RY has been the topic of several other research reports. Canaccord Genuity dropped their target price on shares of RBC Capital to $76.00 and set a hold rating on the stock in a report on Friday, August 21st. Scotiabank restated a sector outperform rating and issued a $84.00 price target (up from $83.00) on shares of RBC Capital in a report on Monday, June 1st. Bank of America lowered their target price on shares of RBC Capital from $77.00 to $72.00 and set a buy rating for the company in a research note on Thursday. TD Securities reissued a buy rating and set a $90.00 price target (up from $88.00) on shares of RBC Capital in a research report on Monday, June 1st. Finally, CIBC cut their target price on shares of RBC Capital from $86.00 to $84.00 and set a sector outperformer rating for the company in a report on Monday, August 17th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. RBC Capital currently has a consensus rating of Hold and an average target price of $78.80.

Royal Bank of Canada is a banking company. It serves over 16 million private, business and corporate clients across a diversified mixture of companies in 40 countries. The Company’s five business segments contain Personal Commercial Banking, Wealth Management, Insurance, Investor Treasury Services and Capital Markets. The Company’s Personal Commercial Banking consists of private and company banking operations, auto financing and retail investment businesses. Wealth Management includes Canadian Wealth Management, United States and International Wealth Management and Global Asset Management. Insurance consists of its insurance operations in Canada and globally and operates under two business lines: Canadian Insurance and International Insurance. Investor Treasury Services segment offers international custody, fund and pension administration. Capital Markets consists of a big part of its global wholesale banking companies.

To get a free copy of the research report on RBC Capital (RY), click here. For more information about research offerings from Zacks Investment Research, visit

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Monday, August 31st, 2015 EN

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