Royal Caribbean Cruises (RCL) Earns “Buy” Rating from Tigress Financial
Other analysts have also recently issued reports about the company. Nomura dropped their price objective on Royal Caribbean Cruises from $153.00 to $152.00 and set a buy rating for the company in a report on Friday, October 26th. Macquarie boosted their price objective on Royal Caribbean Cruises from $103.00 to $104.00 and gave the stock a neutral rating in a report on Friday, October 26th. Wells Fargo & Co dropped their price objective on Royal Caribbean Cruises from $150.00 to $145.00 and set an outperform rating for the company in a report on Monday, October 29th. Citigroup dropped their price objective on Royal Caribbean Cruises from $138.00 to $136.00 and set a buy rating for the company in a report on Friday, August 17th. Finally, ValuEngine cut Royal Caribbean Cruises from a hold rating to a sell rating in a report on Saturday, October 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Royal Caribbean Cruises has a consensus rating of Buy and an average price target of $139.62.
NYSE RCL traded down $5.32 on Friday, hitting $104.92. 1,419,179 shares of the company were exchanged, compared to its average volume of 1,356,010. The company has a market cap of $23.04 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 0.67. Royal Caribbean Cruises has a 1-year low of $97.48 and a 1-year high of $135.65.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, December 19th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 37.18%.
In other news, Director Bernt Reitan sold 1,578 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $106.58, for a total value of $168,183.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 6,600 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $125.55, for a total value of $828,630.00. Following the completion of the sale, the executive vice president now directly owns 26,165 shares of the company’s stock, valued at $3,285,015.75. The disclosure for this sale can be found here. Corporate insiders own 15.26% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Royal Caribbean Cruises by 2.8% in the 2nd quarter. Swiss National Bank now owns 565,238 shares of the company’s stock valued at $58,559,000 after acquiring an additional 15,600 shares during the last quarter. Hexavest Inc. grew its position in shares of Royal Caribbean Cruises by 44.9% in the 3rd quarter. Hexavest Inc. now owns 542,895 shares of the company’s stock valued at $70,544,000 after purchasing an additional 168,242 shares during the period. Price Capital Management Inc. acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $1,475,000. Davy Asset Management Ltd acquired a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $1,314,000. Finally, Dearborn Partners LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $208,000. 71.45% of the stock is owned by institutional investors.
About Royal Caribbean Cruises
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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