Royal Caribbean Cruises Hits New 12-Month High After Strong Earnings (RCL)
Royal Caribbean Cruises (NYSE:RCL)’s share price hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement, Stock Ratings News reports. The company traded as high as $61.36 and last traded at $60.37, with a volume of 4,308,057 shares. The stock had previously closed at $56.23.
The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.14. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company posted $0.23 earnings per share. Royal Caribbean Cruises’s revenue was up 5.2% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, May 14th. They now have a $56.00 price target on the stock. Separately, analysts at SunTrust upgraded shares of Royal Caribbean Cruises from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 14th. They now have a $63.00 price target on the stock, up previously from $54.00. Finally, analysts at Zacks downgraded shares of Royal Caribbean Cruises from an “outperform” rating to a “neutral” rating in a research note on Friday, May 9th. They now have a $54.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.12.
The stock has a 50-day moving average of $55.68 and a 200-day moving average of $52.73. The company has a market cap of $13.439 billion and a price-to-earnings ratio of 29.49.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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