Royal Caribbean Cruises (RCL) Price Target Raised to $138.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by investment analysts at Bank of America from $135.00 to $138.00 in a research note issued to investors on Thursday. The brokerage currently has a “neutral” rating on the stock. Bank of America’s price target points to a potential upside of 5.12% from the company’s current price.

A number of other analysts have also weighed in on RCL. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Argus upped their price objective on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 11th. SunTrust Banks reissued a “buy” rating and set a $126.00 price target on shares of Royal Caribbean Cruises in a research report on Sunday, October 15th. Wells Fargo & Co reissued an “outperform” rating and set a $135.00 price target (up from $128.00) on shares of Royal Caribbean Cruises in a research report on Monday, November 6th. Finally, Wedbush reissued an “outperform” rating and set a $139.00 price target (up from $129.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of “Buy” and an average price target of $130.81.

Royal Caribbean Cruises (NYSE:RCL) traded down $1.21 during trading hours on Thursday, reaching $131.28. 1,150,000 shares of the company were exchanged, compared to its average volume of 1,420,000. Royal Caribbean Cruises has a 52 week low of $86.48 and a 52 week high of $134.76. The stock has a market capitalization of $28,110.00, a price-to-earnings ratio of 17.43, a PEG ratio of 0.66 and a beta of 1.06. 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 (NYSE:RCL) last released its quarterly earnings data on Wednesday, January 24th. The company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.14. Royal Caribbean Cruises had a net margin of 18.41% and a return on equity of 16.64%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. sell-side analysts predict that Royal Caribbean Cruises will post 7.4 EPS for the current fiscal year.

In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $123.00, for a total transaction of $2,460,000.00. Following the transaction, the chief executive officer now owns 847,741 shares in the company, valued at $104,272,143. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock worth $7,497,200. Corporate insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. TLP Group LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter valued at about $105,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the third quarter valued at about $119,000. Pinebridge Investments L.P. acquired a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $121,000. ClariVest Asset Management LLC acquired a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $142,000. Finally, Assetmark Inc. increased its holdings in Royal Caribbean Cruises by 198.1% in the 3rd quarter. Assetmark Inc. now owns 1,225 shares of the company’s stock worth $145,000 after buying an additional 814 shares during the period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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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).