Royal Caribbean Cruises Coverage Initiated at Investec (RCL)
Investec began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note issued on Friday, American Banking News reports. The firm set a “buy” rating and a $46.00 price target on the stock. Investec’s price objective points to a potential upside of 19.48% from the stock’s previous close.
Royal Caribbean Cruises (NYSE:RCL) traded down 0.03% during mid-day trading on Friday, hitting $38.49. 150,912 shares of the company’s stock traded hands. Royal Caribbean Cruises has a 52-week low of $29.96 and a 52-week high of $40.71. The stock’s 50-day moving average is $38.33 and its 200-day moving average is $35.75. The company has a market cap of $8.454 billion and a price-to-earnings ratio of 112.57. Royal Caribbean Cruises also saw some unusual options trading on Wednesday. Stock investors purchased 10,828 call options on the stock. This is an increase of 649% compared to the typical daily volume of 1,445 call options.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results 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.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 8th. Investors of record on Tuesday, September 24th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Friday, September 20th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.12.
A number of other analysts have also recently weighed in on RCL. Analysts at Handelsbanken raised their price target on shares of Royal Caribbean Cruises (NYSE:RCL) from $40.00 to $45.00 in a research note to investors on Wednesday. They now have an “accumulate” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note to investors on Monday, September 9th. They now have a $39.00 price target on the stock. Finally, analysts at Carnegie upgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $42.31.
In other Royal Caribbean Cruises news, Director William Reilly unloaded 8,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $39.02, for a total transaction of $312,160.00. Following the completion of the sale, the director now directly owns 8,926 shares of the company’s stock, valued at approximately $348,293. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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