Zacks Investment Research cut shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) from a buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “Royal Caribbean shares have outpaced the industry in the past year. Given solid performance in the last reported quarter along with favorable booking trends, the company raised its full-year 2017 earnings view. Going forward, the company’s sailings in the United States, Europe, Alaska, Baltic and Asia, are likely to continue performing strongly. The company thus remains positioned to witness another record year and achieve its targets under the Double-Double program. Moreover, its capacity growth is likely to aid in meeting increased demand while ship innovation and technology investments is expected to lead to higher yields. However, higher costs might hurt the company’s profitability in the near term. Further, lingering global uncertainties in key operating regions, along with negative currency translation remain concerns.”

Other equities analysts also recently issued research reports about the company. Nomura upped their target price on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a buy rating in a report on Wednesday, August 2nd. Buckingham Research upped their target price on Royal Caribbean Cruises to $149.00 and gave the company a buy rating in a report on Wednesday, August 2nd. Wedbush upped their target price on Royal Caribbean Cruises from $125.00 to $129.00 and gave the company an outperform rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded Royal Caribbean Cruises from a sell rating to a neutral rating and upped their target price for the company from $99.00 to $115.00 in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a neutral rating to an overweight rating and upped their target price for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $119.73.

Shares of Royal Caribbean Cruises (NYSE RCL) opened at 123.39 on Tuesday. The stock’s 50 day moving average is $119.73 and its 200 day moving average is $111.08. Royal Caribbean Cruises has a 12 month low of $67.53 and a 12 month high of $125.00. The firm has a market cap of $26.54 billion, a P/E ratio of 17.31 and a beta of 0.99.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities research analysts expect that Royal Caribbean Cruises will post $7.43 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, September 21st. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. This represents a $2.40 annualized dividend and a dividend yield of 1.95%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 33.71%.

In related news, CEO Richard D. Fain sold 210,706 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $109.62, for a total value of $2,192,400.00. Following the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at $106,083,768.42. The disclosure for this sale can be found here. Insiders have sold 480,079 shares of company stock worth $56,139,855 over the last ninety days. 15.30% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Eqis Capital Management Inc. lifted its holdings in Royal Caribbean Cruises by 43.3% in the third quarter. Eqis Capital Management Inc. now owns 3,396 shares of the company’s stock valued at $403,000 after acquiring an additional 1,026 shares during the period. Achmea Investment Management B.V. lifted its holdings in Royal Caribbean Cruises by 37.4% in the second quarter. Achmea Investment Management B.V. now owns 9,769 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,658 shares during the period. USA Financial Portformulas Corp lifted its holdings in Royal Caribbean Cruises by 656.7% in the second quarter. USA Financial Portformulas Corp now owns 37,948 shares of the company’s stock valued at $4,145,000 after acquiring an additional 32,933 shares during the period. Toronto Dominion Bank lifted its holdings in Royal Caribbean Cruises by 25.7% in the second quarter. Toronto Dominion Bank now owns 56,882 shares of the company’s stock valued at $6,212,000 after acquiring an additional 11,626 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new position in Royal Caribbean Cruises in the second quarter valued at about $713,000. 71.51% of the stock is currently owned by institutional investors.

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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