Stifel Nicolaus Reaffirms “Buy” Rating for Royal Caribbean Cruises Ltd. (RCL)
Royal Caribbean Cruises Ltd. (NYSE:RCL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Stifel Nicolaus in a report issued on Thursday. They currently have a $134.00 price target on the stock. Stifel Nicolaus’ price objective points to a potential upside of 14.00% from the company’s current price.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $111.00 to $130.00 in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) assumed coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating on the stock. Finally, Bank of America Corporation assumed coverage on Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating and a $123.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Royal Caribbean Cruises currently has a consensus rating of “Buy” and an average price target of $118.44.
Royal Caribbean Cruises (NYSE:RCL) traded down 1.08% during trading on Thursday, reaching $117.54. 1,535,352 shares of the company’s stock traded hands. The company has a 50-day moving average of $118.61 and a 200 day moving average of $107.73. Royal Caribbean Cruises has a 12 month low of $65.10 and a 12 month high of $125.00. The stock has a market capitalization of $25.28 billion, a P/E ratio of 16.49 and a beta of 1.03.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business earned $1.09 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Royal Caribbean Cruises will post $7.44 earnings per share for the current fiscal year.
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In related news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the sale, the chief executive officer now owns 967,741 shares of the company’s stock, valued at approximately $106,083,768.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Adam M. Goldstein sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $118.21, for a total value of $14,185,200.00. Following the completion of the sale, the chief operating officer now directly owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The disclosure for this sale can be found here. In the last three months, insiders sold 460,079 shares of company stock valued at $53,714,055. 15.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. grew its stake in shares of Royal Caribbean Cruises by 17.8% in the 1st quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock valued at $46,875,000 after buying an additional 72,120 shares in the last quarter. Dynamic Capital Management Ltd grew its stake in shares of Royal Caribbean Cruises by 55.5% in the 1st quarter. Dynamic Capital Management Ltd now owns 35,502 shares of the company’s stock valued at $3,483,000 after buying an additional 12,675 shares in the last quarter. Oakbrook Investments LLC grew its stake in shares of Royal Caribbean Cruises by 18.4% in the 2nd quarter. Oakbrook Investments LLC now owns 13,670 shares of the company’s stock valued at $1,493,000 after buying an additional 2,120 shares in the last quarter. British Columbia Investment Management Corp grew its stake in shares of Royal Caribbean Cruises by 40.9% in the 1st quarter. British Columbia Investment Management Corp now owns 146,986 shares of the company’s stock valued at $14,421,000 after buying an additional 42,656 shares in the last quarter. Finally, Banco Santander S.A. bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at approximately $985,000. 71.60% of the stock is owned by institutional investors and hedge funds.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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