Royal Caribbean Cruises Price Target Raised to $70.00 at Argus (RCL)
Investment analysts at Argus boosted their price objective on shares of Royal Caribbean Cruises (NYSE:RCL) from $60.00 to $70.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Argus’ price target would indicate a potential upside of 11.01% from the stock’s previous close.
A number of other analysts have also recently weighed in on RCL. Analysts at Barclays reiterated an “overweight” rating on shares of Royal Caribbean Cruises in a research note on Friday. They now have a $75.00 price target on the stock, up previously from $57.00. Separately, analysts at Telsey Advisory Group raised their price target on shares of Royal Caribbean Cruises from $59.00 to $65.00 in a research note on Friday. They now have a “not rated” rating on the stock. Finally, analysts at DNB Markets downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Royal Caribbean Cruises presently has an average rating of “Buy” and a consensus target price of $60.59.
Royal Caribbean Cruises (NYSE:RCL) traded up 4.13% on Friday, hitting $63.06. The stock had a trading volume of 3,442,900 shares. Royal Caribbean Cruises has a 1-year low of $35.67 and a 1-year high of $63.25. The stock has a 50-day moving average of $56.0 and a 200-day moving average of $52.91. The company has a market cap of $14.007 billion and a price-to-earnings ratio of 31.76.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts expect that Royal Caribbean Cruises will post $3.41 EPS for the current fiscal year.
In other Royal Caribbean Cruises news, COO Adam M. Goldstein unloaded 42,152 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $61.68, for a total transaction of $2,599,935.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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