Richard D. Fain Sells 20,000 Shares of Royal Caribbean Cruises Ltd. (RCL) Stock
Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $123.76, for a total value of $2,475,200.00. Following the completion of the transaction, the chief executive officer now owns 895,416 shares of the company’s stock, valued at approximately $110,816,684.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Royal Caribbean Cruises Ltd. (NYSE RCL) traded up $0.26 during mid-day trading on Tuesday, hitting $124.48. 1,342,000 shares of the stock traded hands, compared to its average volume of 1,578,256. The stock has a market cap of $26,594.12, a price-to-earnings ratio of 16.74, a PEG ratio of 0.75 and a beta of 1.07. The company has a current ratio of 0.16, a quick ratio of 0.13 and a debt-to-equity ratio of 0.58. Royal Caribbean Cruises Ltd. has a 1 year low of $78.77 and a 1 year high of $133.75.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, November 7th. The company reported $3.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.43 by $0.06. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.57 billion. Royal Caribbean Cruises had a net margin of 18.41% and a return on equity of 16.64%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.20 EPS. sell-side analysts forecast that Royal Caribbean Cruises Ltd. will post 7.39 EPS for the current fiscal year.
RCL has been the subject of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $134.00 price target on shares of Royal Caribbean Cruises in a research note on Thursday, September 7th. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a report on Friday, September 1st. J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted 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 issued a “neutral” rating on the stock. Finally, Argus lifted their price objective on Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Royal Caribbean Cruises currently has a consensus rating of “Buy” and a consensus target price of $126.33.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Royal Caribbean Cruises by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after buying an additional 673,608 shares during the period. BlackRock Inc. raised its position in shares of Royal Caribbean Cruises by 2.5% during the 2nd quarter. BlackRock Inc. now owns 10,618,316 shares of the company’s stock valued at $1,159,838,000 after buying an additional 258,958 shares during the period. Ameriprise Financial Inc. raised its position in shares of Royal Caribbean Cruises by 105.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,378,863 shares of the company’s stock valued at $400,541,000 after buying an additional 1,732,995 shares during the period. Bank of New York Mellon Corp raised its position in shares of Royal Caribbean Cruises by 34.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,692,957 shares of the company’s stock valued at $200,683,000 after buying an additional 430,521 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Royal Caribbean Cruises by 158.3% during the 3rd quarter. American Century Companies Inc. now owns 1,373,175 shares of the company’s stock valued at $162,776,000 after buying an additional 841,498 shares during the period. 73.01% of the stock is currently owned by hedge funds and other institutional investors.
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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