Royal Caribbean Cruises Stock Rating Upgraded by Morgan Stanley (RCL)
Royal Caribbean Cruises (NYSE:RCL) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, StockRatingsNetwork.com reports. The firm currently has a $49.00 price objective on the stock, up from their previous price objective of $37.00. Morgan Stanley’s price target indicates a potential upside of 28.78% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 38.05 on Wednesday. Royal Caribbean Cruises has a 52 week low of $25.36 and a 52 week high of $39.90. The stock’s 50-day moving average is $36.9 and its 200-day moving average is $35.14. The company has a market cap of $8.357 billion and a P/E ratio of 111.26.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings data on Thursday, July 25th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.14. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts predict that Royal Caribbean Cruises will post $2.31 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on RCL. Analysts at UBS AG raised their price target on shares of Royal Caribbean Cruises from $34.00 to $40.00 in a research note to investors on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Argus raised their price target on shares of Royal Caribbean Cruises from $44.00 to $46.00 in a research note to investors on Wednesday, August 7th. They now have a “buy” rating on the stock. Finally, analysts at Tigress Financial initiated coverage on shares of Royal Caribbean Cruises in a research note to investors on Friday, August 2nd. They set a “neutral” rating on the stock.
One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $41.14.
In other Royal Caribbean Cruises news, CEO Bradley Stein sold 5,255 shares of the stock on the open market in a transaction that occured on Friday, August 16th. The stock was sold at an average price of $39.15, for a total value of $205,733.25. Following the completion of the sale, the chief executive officer now directly owns 20,009 shares of the company’s stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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