Royal Caribbean Cruises Ltd. (RCL) Given Average Rating of “Buy” by Brokerages
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have received an average rating of “Buy” from the twenty-two analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $117.66.
A number of research firms have issued reports on RCL. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub cut Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reiterated a “buy” rating and issued a $131.00 target price (up previously from $112.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Buckingham Research lifted their target price on Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 target price on shares of Royal Caribbean Cruises in a research report on Thursday, August 3rd.
Shares of Royal Caribbean Cruises (NYSE:RCL) traded up 0.28% during midday trading on Friday, reaching $118.54. 1,743,920 shares of the company’s stock were exchanged. The company’s 50 day moving average is $120.04 and its 200-day moving average is $109.23. The stock has a market cap of $25.50 billion, a PE ratio of 16.63 and a beta of 1.03. Royal Caribbean Cruises has a 12 month low of $67.53 and a 12 month high of $125.00.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the business posted $1.09 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises will post $7.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be issued a $0.60 dividend. 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 yield of 2.02%. Royal Caribbean Cruises’s dividend payout ratio is presently 33.71%.
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In related news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 210,706 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the sale, the chief executive officer now owns 967,741 shares in the company, valued at $112,093,440.03. The disclosure for this sale can be found here. Insiders sold 480,079 shares of company stock worth $56,139,855 over the last quarter. 15.30% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Dynamic Capital Management Ltd boosted its holdings in Royal Caribbean Cruises by 55.5% in the first quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock valued at $3,483,000 after acquiring an additional 12,675 shares during the last quarter. Sheets Smith Wealth Management bought a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $290,000. Intrust Bank NA boosted its holdings in Royal Caribbean Cruises by 2.7% in the second quarter. Intrust Bank NA now owns 2,356 shares of the company’s stock valued at $258,000 after acquiring an additional 61 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Royal Caribbean Cruises by 9.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,161 shares of the company’s stock valued at $4,278,000 after acquiring an additional 3,472 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its holdings in Royal Caribbean Cruises by 18.4% in the second quarter. Oakbrook Investments LLC now owns 13,670 shares of the company’s stock valued at $1,493,000 after acquiring an additional 2,120 shares during the last quarter. Institutional investors and hedge funds own 71.51% of the company’s stock.
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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