Traders Sell Royal Caribbean Cruises Ltd. (RCL) on Strength (RCL)
Traders sold shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) on strength during trading hours on Tuesday. $44.64 million flowed into the stock on the tick-up and $58.93 million flowed out of the stock on the tick-down, for a money net flow of $14.29 million out of the stock. Of all stocks tracked, Royal Caribbean Cruises had the 0th highest net out-flow for the day. Royal Caribbean Cruises traded up $2.93 for the day and closed at $68.41
RCL has been the subject of several recent analyst reports. Morgan Stanley dropped their price objective on Royal Caribbean Cruises from $99.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, May 26th. Citigroup Inc. restated a “buy” rating and set a $95.00 price objective on shares of Royal Caribbean Cruises in a research report on Wednesday, August 24th. Nomura reiterated a “buy” rating and issued a $83.00 target price on shares of Royal Caribbean Cruises in a research report on Wednesday, September 14th. Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $100.00 target price on shares of Royal Caribbean Cruises in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. Royal Caribbean Cruises has an average rating of “Buy” and a consensus target price of $94.13.
The company’s 50 day moving average price is $69.64 and its 200 day moving average price is $73.72. The stock has a market capitalization of $14.73 billion, a PE ratio of 19.52 and a beta of 1.73.
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Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The company earned $2.11 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $0.84 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts expect that Royal Caribbean Cruises Ltd. will post $6.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Thursday, September 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Tuesday, September 27th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. Royal Caribbean Cruises’s payout ratio is 42.98%.
In related news, CEO Richard D. Fain bought 29,190 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $68.52 per share, with a total value of $2,000,098.80. Following the purchase, the chief executive officer now owns 1,068,881 shares in the company, valued at approximately $73,239,726.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vagn O. Sorensen bought 1,100 shares of the stock in a transaction dated Thursday, August 18th. The stock was bought at an average cost of $70.50 per share, with a total value of $77,550.00. Following the purchase, the director now owns 18,871 shares in the company, valued at approximately $1,330,405.50. The disclosure for this purchase can be found here. 16.80% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Carnick & Kubik Group LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth $834,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Royal Caribbean Cruises during the second quarter worth approximately $455,000. Kentucky Retirement Systems acquired a new position in Royal Caribbean Cruises during the second quarter worth approximately $959,000. Mason Street Advisors LLC acquired a new position in Royal Caribbean Cruises during the second quarter worth approximately $1,519,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in Royal Caribbean Cruises by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,114 shares of the company’s stock worth $411,000 after buying an additional 442 shares during the last quarter. 75.28% of the stock is owned by institutional investors.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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