Barclays Sticks to Its Sell Rating for Royal Bank of Canada (RY)

By Austin Angelo

Royal Bank of Canada (RYResearch Report) has received a rating update from a Wall Street analyst yesterday. Analyst John Aiken from Barclays rated Royal Bank of Canada (RYResearch Report) a Sell, setting a C$105 price target.

According to TipRanks.com, Aiken is a 1-star analyst with an average return of -1.4% and a 41.2% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

The word on The Street in general, suggests a Hold analyst consensus rating for Royal Bank of Canada with a C$109.60 average price target.

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.