Royal Caribbean Cruises Ltd. (RCL) Given Average Recommendation of “Buy” by Brokerages
Royal Caribbean Cruises Ltd. (NYSE:RCL) has been assigned a consensus rating of “Buy” from the twenty-one analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $123.11.
Several equities analysts recently commented on RCL shares. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Friday, September 22nd. Argus lifted their price target on Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Berenberg Bank reaffirmed a “buy” rating and set a $135.00 price target on shares of Royal Caribbean Cruises in a research note on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $134.00 price target on shares of Royal Caribbean Cruises in a research note on Thursday, September 7th. Finally, J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $111.00 to $130.00 in a research note on Thursday, July 20th.
Shares of Royal Caribbean Cruises (NYSE:RCL) traded up 1.47% during mid-day trading on Thursday, hitting $123.06. The company had a trading volume of 1,036,447 shares. The company’s 50-day moving average is $120.90 and its 200 day moving average is $113.56. Royal Caribbean Cruises has a one year low of $67.53 and a one year high of $128.09. The company has a market capitalization of $26.47 billion, a PE ratio of 17.26 and a beta of 0.99.
Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $2.20 billion during 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. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that Royal Caribbean Cruises will post $7.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 21st. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is 33.71%.
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In related news, 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 transaction of $24,406,075.98. Following the transaction, the chief executive officer now owns 967,741 shares in the company, valued at approximately $112,093,440.03. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $125.70, for a total value of $2,514,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 480,079 shares of company stock valued at $56,461,455. 15.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in RCL. TLP Group LLC purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $105,000. Acrospire Investment Management LLC increased its holdings in Royal Caribbean Cruises by 25.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after purchasing an additional 200 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Royal Caribbean Cruises during the 1st quarter valued at about $119,000. NEXT Financial Group Inc increased its holdings in Royal Caribbean Cruises by 9.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock valued at $119,000 after purchasing an additional 90 shares during the period. Finally, Pinebridge Investments L.P. purchased a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $121,000. Institutional investors own 71.87% of the company’s stock.
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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