Jefferies Remains a Buy on Royal Bank Of Canada (RY)
In a report released yesterday, John Aiken from Jefferies maintained a Buy rating on Royal Bank Of Canada (RY – Research Report), with a price target of C$198.00.
Confident Investing Starts Here:
Aiken covers the Financial sector, focusing on stocks such as Royal Bank Of Canada, Canadian Bank of Commerce, and Great-West Lifeco. According to TipRanks, Aiken has an average return of 0.0% and a 51.19% success rate on recommended stocks.
In addition to Jefferies, Royal Bank Of Canada also received a Buy from Barclays's Brian Morton in a report issued yesterday. However, on the same day, National Bank downgraded Royal Bank Of Canada (NYSE: RY) to a Hold.
The company has a one-year high of $129.46 and a one-year low of $102.44. Currently, Royal Bank Of Canada has an average volume of 1.36M.
Based on the recent corporate insider activity of 73 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RY in relation to earlier this year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
ICE Mortgage Monitor: Record Levels of Home Equity and Falling Rates Drive Highest HELOC Withdraws Since 2008
48M homeowners sit on $11.5T in tappable equity entering Q2 2025 as HELOC rates ease, driving demand ATLANTA & NEW YORK, June 02, 2025--(BUSINESS WIRE)--ICE Mortgage Technology, a neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released its June 2025 Mortgage Monitor report. The analysis of mortgage, real estate and public records data shows U.S. mortgage holders carried a record $17.6 trillion in home equity entering the second quarter of 2025, with $11.5 trillion considered "tappable" — that is, available for borrowing while maintaining at least a 20% equity cushion. Despite subdued withdrawal rates in recent years, early 2025 data points to shifting borrower behavior. First-quarter second lien equity withdrawals rose 22% year over year to nearly $25 billion — the largest first quarter volume in 17 years — suggesting increased interest in home equity access amid improving loan affordability. "Equity levels remain historically high, and now we're seeing the cost of borrowing against that equity drop meaningfully," said Andy Walden, Head of Mortgage and Housing Market Research at ICE. "The monthly payment needed to withdraw $50,000 via a home equity line of credit (HELOC) has fallen by more than $100 since early 2024. If the Fed moves forward with anticipated rate cuts, borrowing against home equity could become even more attractive in the second half of the year." The average introductory rate on second lien HELOCs has declined by 2.5 percentage points in recent quarters, dropping below 7.5% in March. If current market forecasts hold, HELOC rates could dip into the mid-6% range by 2026 — roughly on par with projected 30-year mortgage rates. This easing has already translated into lower monthly payments for borrowers. According to ICE's McDash Home Equity database, the average monthly payment needed to borrow $50,000 dropped from $412 in early 2024 to $311 by the end of the first quarter of 2025. Other highlights from the June 2025 Mortgage Monitor include: 48 million mortgage holders have tappable equity, with the average homeowner sitting on $212K. Mortgaged homes are, on average, only 45% leveraged, suggesting ample cushion for equity access. Lenders are becoming more aggressive with their HELOC rate offerings, with the spread to prime falling to the lowest levels since 2022. Equity withdrawals — including cash-out refinances — totaled $45 billion in the first quarter of 2025, the highest first quarter volume since 2022. Borrowers tapped just 0.41% of available tappable equity in the first quarter of 2025, still below long-term averages, indicating further room for growth. "In our latest ICE Borrower Insights Survey, roughly 25% of homeowners said they are considering a home equity loan or HELOC in the next year. It's periods like these — where both demand and affordability trends converge — that represent a critical opportunity for housing finance professionals to earn homeowners' repeat business," said Tim Bowler, President of ICE Mortgage Technology. "As a neutral technology provider dedicated to the success of our lender and servicer clients, we've invested heavily in developing an advanced, end-to-end mortgage platform that engages borrowers with timely, relevant offers while keeping costs in check. It's one of the ways we're helping our clients remain responsive, serve their communities and retain customers in a changing market." The full June Mortgage Monitor report also contains a deep analysis of April mortgage performance data and a housing market update featuring May ICE Home Price Index (HPI) data. Further detail, including charts, can be found in this month's Mortgage Monitor. About the ICE Mortgage Monitor ICE manages the nation's leading repository of loan-level residential mortgage data and performance information covering the majority of the overall market, including tens of millions of loans across the spectrum of credit products and more than 160 million historical records. The ICE Home Price Index provides one of the most complete, accurate and timely measures of home prices available, covering 95% of U.S. residential properties down to the ZIP code level. In addition, the company maintains one of the most robust public property records databases available, covering 99.9% of the U.S. population and households from more than 3,100 counties. ICE's research experts carefully analyze this data to produce a summary supplemented by dozens of charts and graphs that reflect trend and point-in-time observations for the monthly Mortgage Monitor report. To review the full report, visit: About Intercontinental Exchange Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE's futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world's largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading "Key Information Documents (KIDS)." Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 6, 2025. Source: Intercontinental Exchange Category: Mortgage Technology ICE-CORP View source version on Contacts ICE Media Contact:Johnna +1 (404) 798-1155 ICE Investor Contact:Katia +1 (678) 981-3882 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
Innovex Expands Platform With Highly Accretive Acquisition of Citadel Casing Solutions
HOUSTON, June 02, 2025--(BUSINESS WIRE)--Innovex International, Inc. (NYSE: INVX) (the "Company" or "Innovex") is pleased to announce that it has completed the acquisition of Citadel Casing Solutions, LLC ("Citadel"), leveraging its unique, energy industrial platform. This investment meets all the criteria of the Company's disciplined M&A framework, including a focus on single-use, highly engineered products that share the Company's "Big Impact, Small Ticket" value proposition. Founded in 2016 by a team of industry experts, Citadel is a leading provider of differentiated downhole technologies which are designed to improve its customers' economics by driving reduced cycle times through improved operational efficiencies. The acquisition is financially attractive even prior to expected synergies. The transaction values Citadel at approximately 3.8x LTM Adjusted EBITDA1 and is 8% accretive to Innovex's EPS2. Innovex anticipates realizing approximately $2 million of cost synergies within 3 months and anticipates further synergies longer term as the business is fully integrated. "We are excited to add another strong team and complementary set of products to Innovex's portfolio," said Adam Anderson, CEO of Innovex. "Citadel has successfully grown its business through-cycle by adhering to a culture which is in line with our 'No-Barriers' approach. Citadel's products drive efficiencies by reducing cycle times, and its TrenchFoot™ Wet Shoe technology increases reservoir access resulting in increased production for our customers. As a result of its technology centric approach, Citadel has outgrown the market over the last few years, and we expect this to continue over the next few years. This acquisition bolsters our leadership position in the cementing tool market in US Land and supports our efforts to grow market share in the offshore and international markets." "We are excited to accelerate our growth under the Innovex banner by tapping into its broad, complementary product portfolio and geographical exposure," said Todd Stair, CEO of Citadel. "The combination of our teams and technologies will enhance our ability to help operators deliver efficient wells, furthering our like-minded mission to help bring reliable and affordable energy to the world." "The acquisition of Citadel fits perfectly within our M&A framework," said Kendal Reed, CFO of Innovex. "Citadel's portfolio of Big Impact, Small Ticket products has allowed it to achieve rapid, profitable growth while delivering exceptional returns on capital. We were able to acquire Citadel at a favorable multiple and strong acquisition-level returns even before considering revenue and cost synergies. Importantly, the transaction is highly accretive to our earnings and cash flow per share. Given our strong balance sheet and cash flow generative business model, we were able to acquire Citadel in an all-cash transaction while maintaining an extremely conservative leverage profile and an active corporate buyback program. We expect this acquisition to drive ROCE3 well in excess of idle balance sheet cash, improving long-term returns for our shareholders." Advisors Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Innovex. Piper Sandler served as exclusive financial advisor to Citadel, and Troutman Pepper Locke LLP served as Citadel's legal advisor. About Innovex Innovex International, Inc (NYSE: INVX) is a Houston-based company established in 2024 following the merger of Dril-Quip, Inc and Innovex Downhole Solutions. Our comprehensive portfolio extends throughout the lifecycle of the well; and innovative product integration ensures seamless transitions from one well phase to the next, driving efficiency, lowering cost, and reducing the rig site service footprint for the customer. With locations throughout North America, Latin America, Europe, the Middle East and Asia, no matter where you need us, our team is readily available with technical expertise, conventional and innovative technologies, and ever-present customer service. About Citadel Founded in 2016, Citadel was established to revolutionize casing technology through continuous innovation. Citadel's high-quality, reliable downhole tools are used globally, driving efficiency and performance in the Oil and Gas sector. By combining internal R&D with strategic partnerships, Citadel remains at the forefront of technological advancements in casing solutions. Non-GAAP Financial Measures Adjusted EBITDA is a non-GAAP financial measure. Innovex defines Citadel's Adjusted EBITDA as net income before interest expense, income tax expense, depreciation and amortization, deal costs and board retention agreements, net, further adjusted to exclude certain items which Citadel believes are not reflective of its ongoing performance or which are non-cash in nature. Citadel management used Adjusted EBITDA to assess the profitability of its business operations and to compare Citadel's operating performance to its competitors without regard to the impact of financing methods and capital structure and excluding costs that management believes do not reflect its ongoing operating performance. Adjusted EBITDA does not represent and should not be considered as an alternative to, or more meaningful than, net income or any other measure of financial performance presented in accordance with GAAP as measures of Citadel's financial performance. Innovex's computation of Citadel's Adjusted EBITDA may differ from computations of similarly titled measures of other companies. Innovex utilizes Return on Capital Employed ("ROCE") (a non-GAAP measure) to assess the effectiveness of its capital allocation over time and to compare its capital efficiency to its competitors. Innovex defines ROCE as Income from Operations, before acquisition and integration costs and after tax (resulting in Adjusted Income from Operations, after tax) divided by average capital employed. Capital employed is defined as the combined values of debt and stockholders' equity. Forward-Looking Statements Certain statements contained in this press release and oral statements made regarding the matters addressed in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Innovex's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology including "may," "believe," "expect," "intend," "anticipate," "plan," "should," "estimate," "continue," "potential," "will," "hope" or other similar words and include the Company's expectation of future performance contained herein. These statements discuss future expectations or state other "forward-looking" information, including without limitation statements regarding the expected benefits of the acquisition. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties. Consequently, no forward- looking statements can be guaranteed. These statements reflect management's expectations based on currently available information and involve significant risks, uncertainties and assumptions that may cause actual results to differ materially. Factors that may cause such differences include, but are not limited to, economic conditions and other factors noted in the Company's Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. Innovex disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release, except as may be required by law. ________________________________________ 1 Citadel's LTM Adjusted EBITDA as of 04/30/2025. Adjusted EBITDA is a non-GAAP measure. A reconciliation of Citadel's LTM Adjusted EBITDA to Citadel LTM net income, the most directly comparable financial measures presented in accordance with GAAP, is outlined in the reconciliation table accompanying this release. 2 Reflects LTM as-reported net income for both Innovex and Citadel as of 03/31/2025. The net income amount does not give effect to costs, charges, synergies, or other similar items that could result from a combined company. The share count uses Innovex's outstanding share count as of 03/31/2025. As Citadel is a passthrough entity, Citadel did not incur any income tax expenses. As a combined company, income tax expenses would be expected. Therefore, for the purpose of calculating EPS, an assumed tax rate of 21% was used. 3 Return on Capital Employed ("ROCE") is a non-GAAP measure. Innovex International, Inc. Reconciliation of Citadel's Net Income to Adjusted EBITDA (in thousands) (Unaudited) CitadelLTM April 30, 2025 Revenue $ 71,965 Net Income $ 15,098 Interest expense 513 Income tax expense - Depreciation and amortization 2,600 Other expense/income - EBITDA $ 18,212 Deal Costs 185 Board Retention Agreements 64 Adjusted EBITDA $ 18,461 Net Income (Loss) % Revenue 21 % Adjusted EBITDA Margin1 26 % Note: Figures shown above reflect unaudited results. A quality of earnings analysis was conducted to verify the figures shown. (1) Underlying calculation is not rounded. View source version on Contacts Investor Relations Contact Avinash CuddapahSr. Director – Investor Relationsinvestors@ (346) 398-0000
Yahoo
17 minutes ago
- Yahoo
Sébastien Jacquet Appointed Chief Quality Officer
Sébastien Jacquet Appointed Chief Quality Officer AMSTERDAM, June 2, 2025 – Stellantis N.V. today announced the appointment of Sébastien Jacquet as Chief Quality Officer, effective immediately. He succeeds Antonio Filosa, who has been appointed to be the Company's new Chief Executive Officer. Sébastien Jacquet, who previously served as Deputy Chief Engineering and Technology Officer and Head of Cross Car Line and Project Engineering, has almost 25 years of extensive experience in quality, automotive engineering and technology, research and development, and project management. He played a pivotal role in launching the Company's first multi-energy platform, STLA Medium. # # #Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit @Stellantis Stellantis Stellantis Stellantis For more information, contact:Fernão SILVEIRA +31 6 43 25 43 41 – ROUSSEL +33 6 87 77 41 82 – Attachment EN-20250602-Chief-Quality-Officer-AppointmentError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
