Royal Caribbean Cruises Ltd. (RCL) PT Raised to $145.00 at Argus
Royal Caribbean Cruises Ltd. (NYSE:RCL) had its price target boosted by equities researchers at Argus from $135.00 to $145.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Argus’ price objective suggests a potential upside of 15.99% from the stock’s current price.
RCL has been the topic of a number of other research reports. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $136.00 price target on the stock in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $134.00 price target on shares of Royal Caribbean Cruises in a report on Thursday, September 7th. BidaskClub upgraded Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Deutsche Bank AG upped their target price on Royal Caribbean Cruises from $102.00 to $114.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) downgraded Royal Caribbean Cruises to a “sell” rating in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and an average target price of $121.25.
Shares of Royal Caribbean Cruises (NYSE RCL) traded up 0.17% during midday trading on Wednesday, hitting $125.01. The company had a trading volume of 1,572,538 shares. Royal Caribbean Cruises has a 52 week low of $67.53 and a 52 week high of $126.07. The firm’s 50 day moving average is $120.03 and its 200 day moving average is $111.65. The company has a market capitalization of $26.89 billion, a P/E ratio of 19.35 and a beta of 0.99.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the previous year, the business earned $1.09 EPS. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises will post $7.43 EPS for the current year.
In related news, COO Adam M. Goldstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $118.21, for a total value of $14,185,200.00. Following the transaction, the chief operating officer now directly owns 191,252 shares of the company’s stock, valued at approximately $22,607,898.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 480,079 shares of company stock worth $56,139,855. Insiders own 15.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. lifted its position in Royal Caribbean Cruises by 43.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 3,396 shares of the company’s stock valued at $403,000 after acquiring an additional 1,026 shares in the last quarter. Achmea Investment Management B.V. lifted its position in Royal Caribbean Cruises by 37.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 9,769 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,658 shares in the last quarter. USA Financial Portformulas Corp lifted its position in Royal Caribbean Cruises by 656.7% in the 2nd quarter. USA Financial Portformulas Corp now owns 37,948 shares of the company’s stock valued at $4,145,000 after acquiring an additional 32,933 shares in the last quarter. Toronto Dominion Bank lifted its position in Royal Caribbean Cruises by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 56,882 shares of the company’s stock valued at $6,212,000 after acquiring an additional 11,626 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new position in Royal Caribbean Cruises in the 2nd quarter valued at approximately $713,000. 71.51% of the stock is currently owned by institutional investors and hedge funds.
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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