Royal Caribbean Cruises Shares Gap Up Following Analyst Upgrade (RCL)
Royal Caribbean Cruises (NYSE:RCL) shares gapped up before the market opened on Wednesday after Jefferies Group raised their price target on the stock from $58.00 to $73.00, AR Network reports. The stock had previously closed at $64.08, but opened at $64.37. Jefferies Group currently has a buy rating on the stock. Royal Caribbean Cruises shares last traded at $65.19, with a volume of 1,066,508 shares changing hands.
RCL has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, August 13th. They now have a $64.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. They now have a $73.00 price target on the stock, up previously from $63.00. Finally, analysts at Berenberg Bank raised their price target on shares of Royal Caribbean Cruises from $60.00 to $73.00 in a research note on Monday, July 28th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.24.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 35,948 shares of the stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $63.85, for a total value of $2,295,279.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
The stock has a 50-day moving average of $60.68 and a 200-day moving average of $55.37. The company has a market cap of $14.437 billion and a P/E ratio of 26.67.
Royal Caribbean Cruises (NYSE:RCL) last announced its 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 $3.48 EPS for the current fiscal year.
Royal Caribbean Cruises Ltd. (NYSE:RCL) is a cruise company.
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