Royal Caribbean Cruises Ltd (RCL) Shares Sold by Verition Fund Management LLC
Verition Fund Management LLC decreased its position in Royal Caribbean Cruises Ltd (NYSE:RCL) by 46.4% during the 2nd quarter, Holdings Channel reports. The firm owned 5,482 shares of the company’s stock after selling 4,742 shares during the period. Verition Fund Management LLC’s holdings in Royal Caribbean Cruises were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new stake in shares of Royal Caribbean Cruises during the second quarter worth $145,000. Squar Milner Financial Services LLC purchased a new stake in shares of Royal Caribbean Cruises during the second quarter worth $164,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of Royal Caribbean Cruises by 488.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock worth $185,000 after acquiring an additional 1,484 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in shares of Royal Caribbean Cruises during the second quarter worth $204,000. Finally, AdvisorNet Financial Inc purchased a new stake in shares of Royal Caribbean Cruises during the second quarter worth $207,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
Several equities research analysts have issued reports on the company. Bank of America increased their target price on Royal Caribbean Cruises from $138.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $147.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley increased their target price on Royal Caribbean Cruises from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Deutsche Bank upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $146.00 in a research report on Wednesday, August 29th. Finally, ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Friday, August 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $141.53.
Royal Caribbean Cruises stock opened at $129.32 on Friday. The firm has a market capitalization of $27.04 billion, a PE ratio of 16.50, a PEG ratio of 0.92 and a beta of 1.18. Royal Caribbean Cruises Ltd has a fifty-two week low of $101.20 and a fifty-two week high of $135.65. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.68.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.30. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. sell-side analysts anticipate that Royal Caribbean Cruises Ltd will post 8.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 11th. Stockholders of record on Friday, September 21st will be issued a $0.70 dividend. The ex-dividend date is Thursday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. Royal Caribbean Cruises’s dividend payout ratio is presently 37.18%.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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