Royal Caribbean Cruises Stock Rating Upgraded by Zacks (RCL)
Royal Caribbean Cruises (NYSE:RCL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Friday, Stock Ratings Network.com reports. The firm currently has a $62.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 20.69% from the company’s current price.
Zacks‘ analyst wrote, “We upgrade our recommendation on Royal Caribbean from Neutral to Outperform mainly driven by strong fourth quarter 2013 results and an improved guidance for 2014. Adjusted earnings of $0.23 per share beat the Zacks Consensus Estimate by 27.7% and surged 130.0% year over year driven a solid top line increase. Revenues increased 2.7% year over year and marginally beat the Zacks Consensus Estimate thanks to increased onboard and other revenues and solid close-in demand in Europe and Asia. Continued strength in European and Asian sailings and solid onboard revenues also helped net yields to increase 3.8% year over year. Given the better- than-expected results, the company increased its earnings guidance for 2014. Going forward, the company is expected to deliver strong results driven by strong booking trends and profitability initiatives undertaken by the company. Also, efforts to keep a control on volatility in fuel prices add visibility to the story. Moreover, regular dividend hikes keeps the stock attractive for investors.”
In other Royal Caribbean Cruises news, CEO Michael Bayley sold 16,358 shares of Royal Caribbean Cruises stock on the open market in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $52.15, for a total transaction of $853,069.70. Following the completion of the transaction, the chief executive officer now directly owns 56,196 shares in the company, valued at approximately $2,930,621. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on RCL. Analysts at Jefferies Group raised their price target on shares of Royal Caribbean Cruises from $48.00 to $58.00 in a research note on Tuesday, February 11th. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Separately, analysts at UBS AG raised their price target on shares of Royal Caribbean Cruises from $50.00 to $57.00 in a research note on Monday, February 3rd. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Royal Caribbean Cruises from $50.00 to $56.00 in a research note on Tuesday, January 28th. They now have an “overweight” rating on the stock. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $53.71.
Royal Caribbean Cruises (NYSE:RCL) traded up 1.05% on Friday, hitting $51.91. 375,468 shares of the company’s stock traded hands. Royal Caribbean Cruises has a 1-year low of $31.35 and a 1-year high of $52.90. The stock has a 50-day moving average of $49.3 and a 200-day moving average of $42.94. The company has a market cap of $11.445 billion and a P/E ratio of 24.00.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.18 by $0.05. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Royal Caribbean Cruises will post $3.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, February 13th.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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