Insider Selling: Royal Caribbean Cruises Ltd. (RCL) CEO Sells 20,000 Shares of Stock
Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $125.70, for a total transaction of $2,514,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 0.30% during mid-day trading on Monday, hitting $127.39. 1,231,030 shares of the stock were exchanged. The firm has a market cap of $27.40 billion, a price-to-earnings ratio of 17.87 and a beta of 0.99. Royal Caribbean Cruises Ltd. has a 52-week low of $67.53 and a 52-week high of $128.09. The stock has a 50-day moving average price of $120.47 and a 200 day moving average price of $112.22.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. Royal Caribbean Cruises’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. On average, equities research analysts expect that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 11th. Investors of record on Friday, September 22nd were given a $0.60 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. This represents a $2.40 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, September 21st. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 33.71%.
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A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Royal Caribbean Cruises by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock worth $1,876,413,000 after buying an additional 673,608 shares during the period. BlackRock Inc. increased its holdings in Royal Caribbean Cruises by 2.5% in the 2nd quarter. BlackRock Inc. now owns 10,618,316 shares of the company’s stock worth $1,159,838,000 after buying an additional 258,958 shares during the period. State Street Corp increased its holdings in Royal Caribbean Cruises by 3.3% in the 1st quarter. State Street Corp now owns 7,057,591 shares of the company’s stock worth $692,420,000 after buying an additional 223,444 shares during the period. Dimensional Fund Advisors LP increased its holdings in Royal Caribbean Cruises by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,911,924 shares of the company’s stock worth $285,711,000 after buying an additional 290,536 shares during the period. Finally, Wedge Capital Management L L P NC increased its holdings in Royal Caribbean Cruises by 10.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 908,086 shares of the company’s stock worth $99,190,000 after buying an additional 89,564 shares during the period. Institutional investors own 71.49% of the company’s stock.
A number of research analysts recently issued reports on the stock. SunTrust Banks, Inc. reissued a “buy” rating and set a $126.00 price target on shares of Royal Caribbean Cruises in a research report on Sunday. BidaskClub cut shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reissued a “buy” rating and set a $131.00 price target (up from $112.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Buckingham Research lifted their price target on shares of Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $123.04.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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