Richard D. Fain Sells 20,000 Shares of Royal Caribbean Cruises Ltd (RCL) Stock
Royal Caribbean Cruises Ltd (NYSE:RCL) CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $96.80, for a total value of $1,936,000.00. Following the transaction, the chief executive officer now directly owns 1,047,741 shares of the company’s stock, valued at $101,421,328.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Royal Caribbean Cruises Ltd (NYSE:RCL) opened at 97.91 on Tuesday. The stock’s 50 day moving average price is $95.72 and its 200 day moving average price is $82.40. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 16.51 and a beta of 1.23. Royal Caribbean Cruises Ltd has a 52-week low of $64.95 and a 52-week high of $98.46.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, January 26th. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. Royal Caribbean Cruises had a net margin of 15.10% and a return on equity of 15.89%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the business earned $0.94 EPS. The company’s revenue was up .4% on a year-over-year basis. On average, equities analysts anticipate that Royal Caribbean Cruises Ltd will post $7.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Tuesday, March 7th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.96%. Royal Caribbean Cruises’s payout ratio is 32.32%.
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A number of research analysts have issued reports on the company. Barclays PLC set a $115.00 price objective on Royal Caribbean Cruises and gave the company a “buy” rating in a report on Saturday, January 28th. Goldman Sachs Group Inc reaffirmed a “neutral” rating and issued a $78.00 price target on shares of Royal Caribbean Cruises in a report on Wednesday, December 21st. Argus raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and lifted their price target for the company from $94.56 to $116.00 in a report on Monday, January 30th. Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $100.00 to $109.00 and gave the company a “buy” rating in a report on Friday, January 27th. Finally, Instinet lifted their price target on Royal Caribbean Cruises to $114.00 and gave the company a “buy” rating in a report on Friday, January 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and an average target price of $95.87.
Several large investors have recently made changes to their positions in the stock. Financial Architects Inc increased its position in Royal Caribbean Cruises by 0.6% in the third quarter. Financial Architects Inc now owns 3,522 shares of the company’s stock worth $263,000 after buying an additional 22 shares during the period. Nippon Life Insurance Co. increased its position in Royal Caribbean Cruises by 0.4% in the third quarter. Nippon Life Insurance Co. now owns 9,226 shares of the company’s stock worth $691,000 after buying an additional 35 shares during the period. United Capital Financial Advisers LLC increased its position in Royal Caribbean Cruises by 1.1% in the fourth quarter. United Capital Financial Advisers LLC now owns 3,357 shares of the company’s stock worth $275,000 after buying an additional 37 shares during the period. Capstone Asset Management Co. increased its position in Royal Caribbean Cruises by 0.7% in the third quarter. Capstone Asset Management Co. now owns 12,287 shares of the company’s stock worth $921,000 after buying an additional 80 shares during the period. Finally, Hartline Investment Corp increased its position in Royal Caribbean Cruises by 1.2% in the third quarter. Hartline Investment Corp now owns 9,035 shares of the company’s stock worth $677,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 74.32% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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