Royal Caribbean Cruises Ltd. (RCL) Upgraded at Zacks Investment Research
Royal Caribbean Cruises Ltd. (NYSE:RCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $137.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.93% from the company’s previous close.
According to Zacks, “Royal Caribbean shares have outpaced the industry in the past year. Given solid performance in the last reported quarter along with favorable booking trends, the company raised its full-year 2017 earnings view. Going forward, the company’s sailings in the U.S., Europe, Alaska, Baltic and Asia, are likely to continue performing strongly. The company thus remains positioned to witness another record year and achieve its targets under the Double-Double program. However, higher costs might hurt the company’s profitability in the near term. Further, lingering global uncertainties in key operating regions, along with negative currency translation remain concerns. Even so, its capacity growth should aid in meeting increased demand while ship innovation and technology investments should lead to higher yields.”
RCL has been the topic of several other reports. Nomura boosted their target price on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and boosted their target price for the company from $99.00 to $115.00 in a research note on Wednesday, August 2nd. Deutsche Bank AG boosted their target price on Royal Caribbean Cruises from $102.00 to $114.00 and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Wedbush restated an “outperform” rating and issued a $129.00 target price (up from $125.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Finally, UBS AG restated a “buy” rating and issued a $131.00 target price (up from $112.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $118.49.
Royal Caribbean Cruises (NYSE:RCL) traded up 1.07% on Thursday, reaching $123.50. The company’s stock had a trading volume of 1,817,916 shares. The firm has a market cap of $26.57 billion, a price-to-earnings ratio of 17.33 and a beta of 1.03. The firm has a 50 day moving average of $119.51 and a 200 day moving average of $108.56. Royal Caribbean Cruises has a 12 month low of $65.45 and a 12 month high of $125.00.
Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 earnings per share. Analysts anticipate that Royal Caribbean Cruises will post $7.44 earnings per share for the current year.
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In related news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the completion of the transaction, the chief executive officer now directly owns 927,741 shares in the company, valued at $112,525,705.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total value of $24,406,075.98. Following the transaction, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 480,079 shares of company stock valued at $56,139,855. 15.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of RCL. TLP Group LLC purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth about $105,000. NEXT Financial Group Inc boosted its holdings in shares of Royal Caribbean Cruises by 25.0% in the 1st quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after purchasing an additional 200 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 25.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after purchasing an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter worth about $119,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth about $121,000. Hedge funds and other institutional investors own 71.60% of the company’s stock.
About Royal Caribbean Cruises
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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