Investors Buy Shares of Royal Caribbean Cruises Ltd. (RCL) on Weakness
Traders bought shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) on weakness during trading hours on Wednesday. $29.23 million flowed into the stock on the tick-up and $19.99 million flowed out of the stock on the tick-down, for a money net flow of $9.24 million into the stock. Of all equities tracked, Royal Caribbean Cruises had the 13th highest net in-flow for the day. Royal Caribbean Cruises traded down ($0.55) for the day and closed at $67.86
Several research firms recently commented on RCL. Morgan Stanley decreased their target price on Royal Caribbean Cruises from $99.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. Tigress Financial raised Royal Caribbean Cruises to a “buy” rating in a research note on Tuesday, May 31st. Sterne Agee CRT began coverage on Royal Caribbean Cruises in a research note on Tuesday, June 7th. They set a “neutral” rating and a $83.00 target price for the company. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Finally, Nomura reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $93.52.
The stock’s 50 day moving average is $69.65 and its 200 day moving average is $73.68. The stock has a market cap of $14.61 billion, a PE ratio of 19.37 and a beta of 1.73.
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Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Equities research analysts predict that Royal Caribbean Cruises Ltd. will post $6.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, September 29th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, September 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.83%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. Royal Caribbean Cruises’s dividend payout ratio is presently 42.98%.
In related news, Director Vagn O. Sorensen purchased 1,100 shares of the business’s stock in a transaction that occurred on Thursday, August 18th. The shares were bought at an average price of $70.50 per share, for a total transaction of $77,550.00. Following the purchase, the director now directly owns 18,871 shares of the company’s stock, valued at approximately $1,330,405.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $74.46, for a total value of $505,583.40. Following the completion of the sale, the chief executive officer now owns 34,450 shares in the company, valued at approximately $2,565,147. The disclosure for this sale can be found here. 16.80% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of RCL. MU Investments Co. Ltd. bought a new stake in Royal Caribbean Cruises during the second quarter valued at $109,000. IFP Advisors Inc increased its stake in Royal Caribbean Cruises by 33.3% in the first quarter. IFP Advisors Inc now owns 1,416 shares of the company’s stock valued at $116,000 after buying an additional 354 shares during the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in Royal Caribbean Cruises during the second quarter valued at $142,000. Mizuho Asset Management Co. Ltd. increased its stake in shares of Royal Caribbean Cruises by 86.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock valued at $156,000 after buying an additional 1,075 shares in the last quarter. Finally, Invictus RG acquired a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $164,000. Institutional investors own 75.03% of the company’s stock.
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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