Royal Caribbean Cruises Ltd. (RCL) Trading Down 1.4%
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) were down 1.4% during trading on Wednesday . The company traded as low as $67.06 and last traded at $67.42, with a volume of 1,052,396 shares changing hands. The stock had previously closed at $68.41.
A number of analysts have recently commented on RCL shares. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, June 29th. Nomura restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Wednesday, June 15th. Tigress Financial upgraded shares of Royal Caribbean Cruises to a “buy” rating in a report on Tuesday, May 31st. Credit Suisse Group AG restated a “buy” rating and set a $100.00 target price on shares of Royal Caribbean Cruises in a report on Wednesday, August 3rd. Finally, Stifel Nicolaus lowered their price target on Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. Royal Caribbean Cruises has an average rating of “Buy” and a consensus target price of $93.52.
The company has a market capitalization of $14.61 billion, a P/E ratio of 19.37 and a beta of 1.73. The stock’s 50-day moving average price is $69.65 and its 200 day moving average price is $73.68.
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Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data 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 had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, September 27th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 42.98%.
In other Royal Caribbean Cruises news, Director Vagn O. Sorensen purchased 1,100 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was bought at an average cost of $70.50 per share, for a total transaction of $77,550.00. Following the completion of the purchase, the director now owns 18,871 shares in the company, valued at approximately $1,330,405.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the stock in a transaction dated Friday, August 5th. The shares were 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 of the company’s stock, valued at $2,565,147. The disclosure for this sale can be found here. 16.80% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Royal Caribbean Cruises by 2.3% in the second quarter. Vanguard Group Inc. now owns 15,394,128 shares of the company’s stock worth $1,033,716,000 after buying an additional 344,473 shares during the period. Primecap Management Co. CA boosted its stake in Royal Caribbean Cruises by 31.6% in the second quarter. Primecap Management Co. CA now owns 7,721,989 shares of the company’s stock worth $518,532,000 after buying an additional 1,852,117 shares during the period. State Street Corp boosted its stake in Royal Caribbean Cruises by 0.8% in the first quarter. State Street Corp now owns 6,687,292 shares of the company’s stock worth $549,355,000 after buying an additional 50,919 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Royal Caribbean Cruises by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,437,215 shares of the company’s stock worth $364,517,000 after buying an additional 100,616 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Royal Caribbean Cruises by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,324,669 shares of the company’s stock worth $156,118,000 after buying an additional 44,087 shares during the period. Institutional investors own 75.03% of the company’s stock.
About Royal Caribbean Cruises
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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