Royal Caribbean Cruises Ltd. (RCL) PT Lowered to $78.00

Royal Caribbean Cruises Ltd. (RCL) PT Lowered to $78.00

Royal Caribbean Cruises Ltd. (NYSE:RCL) had its price objective decreased by stock analysts at J P Morgan Chase & Co from $102.00 to $78.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the stock. J P Morgan Chase & Co’s price objective would suggest a potential downside of 17.51% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $78.00 price objective on shares of Royal Caribbean Cruises in a research report on Wednesday, December 21st. Susquehanna set a $99.00 price objective on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a research report on Wednesday, January 25th. Vetr upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $87.83 target price for the company in a report on Monday, December 19th. Deutsche Bank AG restated a “hold” rating and issued a $81.00 target price on shares of Royal Caribbean Cruises in a report on Monday, October 31st. Finally, Wedbush set a $88.00 target price on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a report on Monday, November 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Royal Caribbean Cruises has a consensus rating of “Buy” and an average price target of $94.78.

Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 94.56 on Thursday. The stock has a 50 day moving average of $85.48 and a 200-day moving average of $76.36. The firm has a market capitalization of $20.29 billion, a price-to-earnings ratio of 15.95 and a beta of 1.24. Royal Caribbean Cruises has a one year low of $64.21 and a one year high of $96.09.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, January 26th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. The business earned $1.91 billion during the quarter, compared to analyst estimates of $1.97 billion. Royal Caribbean Cruises had a net margin of 15.10% and a return on equity of 15.89%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, equities analysts anticipate that Royal Caribbean Cruises will post $6.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st were issued a dividend of $0.48 per share. The ex-dividend date was Monday, December 19th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.03%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 32.32%.

In other Royal Caribbean Cruises news, SVP Henry L. Pujol sold 7,600 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $75.93, for a total transaction of $577,068.00. Following the sale, the senior vice president now directly owns 46,959 shares of the company’s stock, valued at $3,565,596.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Wilhelmsen A. S. A sold 3,600,000 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $84.02, for a total transaction of $302,472,000.00. Following the sale, the insider now directly owns 24,899,253 shares in the company, valued at $2,092,035,237.06. The disclosure for this sale can be found here. Insiders have sold 3,629,707 shares of company stock worth $304,741,054 over the last three months. 16.80% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Primecap Management Co. CA boosted its stake in shares of Royal Caribbean Cruises by 31.6% in the second quarter. Primecap Management Co. CA now owns 7,721,989 shares of the company’s stock worth $518,532,000 after buying an additional 1,852,117 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Royal Caribbean Cruises by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,366,281 shares of the company’s stock worth $327,253,000 after buying an additional 31,171 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Royal Caribbean Cruises by 4.8% in the third quarter. BlackRock Fund Advisors now owns 2,777,964 shares of the company’s stock worth $208,208,000 after buying an additional 126,895 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Royal Caribbean Cruises by 36.9% in the third quarter. Bank of New York Mellon Corp now owns 1,992,417 shares of the company’s stock worth $149,331,000 after buying an additional 536,612 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Royal Caribbean Cruises by 33.9% in the second quarter. Bessemer Group Inc. now owns 1,521,508 shares of the company’s stock worth $102,169,000 after buying an additional 384,918 shares during the period. 76.27% of the stock is currently owned by institutional investors.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.

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