Royal Caribbean Cruises Given Neutral Rating at Zacks (RCL)
Royal Caribbean Cruises (NYSE:RCL)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday, Analyst RN reports. They currently have a $52.00 price target on the stock. Zacks‘ price target points to a potential upside of 4.23% from the stock’s previous close.
Zacks‘ analyst wrote, “Royal Caribbean posted strong third quarter results with adjusted earnings of $1.71 per share beating the Zacks Consensus Estimate of $1.64 by 4.3% and the year-earnings by 1.8%. Earnings in the quarter gained from a higher top line. Total revenue in the quarter increased 3.8% year over year and beat the Zacks Consensus Estimate by 1.3%. Increased onboard revenues and solid demand in Europe and Asia backed top-line growth. Net yields increased 2.6% year over year. Going forward, this trend is expected to continue driven by strong booking trends and profitability initiatives undertaken by the company. Moreover, continuous hike in dividend keeps the stock attractive for investors. However, sluggish recovery in debt-ridden Europe and the China-Japan conflict will likely hamper some of the itineraries of the company in the near term. The company is also expected to incur extra charges due to some deployment changes and adoption of several marketing strategies. Hence, we remain Neutral on the stock.”
Shares of Royal Caribbean Cruises (NYSE:RCL) traded down 0.10% during mid-day trading on Friday, hitting $49.84. The stock had a trading volume of 404,590 shares. Royal Caribbean Cruises has a one year low of $31.35 and a one year high of $50.24. The stock’s 50-day moving average is $45.92 and its 200-day moving average is $40.58. The company has a market cap of $10.962 billion and a price-to-earnings ratio of 150.27.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings data on Thursday, October 24th. The company reported $1.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company posted $1.68 earnings per share. Royal Caribbean Cruises’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Royal Caribbean Cruises will post $2.36 EPS for the current fiscal year.
A number of other firms have also recently commented on RCL. Analysts at DNB Markets downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 10th. Separately, analysts at Aegis raised their price target on shares of Royal Caribbean Cruises from $52.00 to $56.00 in a research note to investors on Thursday, January 9th. They now have a “buy” rating on the stock. Finally, analysts at UBS AG upgraded shares of Royal Caribbean Cruises from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, December 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.44.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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