Royal Bank Of Canada [RY] is -3.26% lower this YTD. Is it still time to buy?

Royal Bank Of Canada [NYSE: RY] plunged by -$1.44 during the normal trading session on while it closed the day at $97.83. The company report on January 18, 2024 at 6:40 PM that Royal Bank of Canada announces Institutional NVCC Preferred Share Issue.

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Royal Bank of Canada (TSX: RY) (NYSE: RY) today announced a domestic public offering of Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series BU (“Preferred Shares Series BU”).

Royal Bank Of Canada stock has also gained 0.36% of its value over the past 7 days. However, RY stock has inclined by 20.32% in the 3 months of the year. Over the past six months meanwhile, it has lost -0.89% and lost -3.26% year-on date.

The market cap for RY stock reached $137.19 billion, with 1.40 billion shares outstanding and 1.40 billion shares in the current float. Compared to the average trading volume of 1.18M shares, RY reached a trading volume of 2968581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Royal Bank Of Canada [RY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RY shares is $98.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RY stock is a recommendation set at 2.25. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Royal Bank Of Canada shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 18, 2023.

The Average True Range (ATR) for Royal Bank Of Canada is set at 1.36, with the Price to Sales ratio for RY stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 1.72. Price to Free Cash Flow for RY in the course of the last twelve months was 35.67.

RY stock trade performance evaluation

Royal Bank Of Canada [RY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.36. With this latest performance, RY shares dropped by -2.35% in over the last four-week period, additionally sinking by -0.89% over the last 6 months – not to mention a drop of -2.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RY stock in for the last two-week period is set at 48.90, with the RSI for the last a single of trading hit 41.42, and the three-weeks RSI is set at 53.85 for Royal Bank Of Canada [RY]. The present Moving Average for the last 50 days of trading for this stock 94.81, while it was recorded at 98.77 for the last single week of trading, and 92.66 for the last 200 days.

Royal Bank Of Canada [RY]: An insightful look at the core fundamentals

Royal Bank Of Canada’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.77.

Earnings per share (EPS) analysis for Royal Bank Of Canada [RY] stock

With the latest financial reports released by the company, Royal Bank Of Canada posted 2.27/share EPS, while the average EPS was predicted by analysts to be reported at 2.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Royal Bank Of Canada go to 5.20%.

Royal Bank Of Canada [RY]: Institutional Ownership

The top three institutional holders of RY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RY stock with ownership which is approximately 5.8325%.