Royal Caribbean Cruises Ltd. (NYSE:RCL) had its price objective hoisted by Wedbush from $88.00 to $106.00 in a research note released on Friday morning. Wedbush currently has an outperform rating on the stock.
A number of other analysts have also recently issued reports on RCL. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a sell rating to a hold rating in a research note on Tuesday, November 1st. Deutsche Bank AG initiated coverage on shares of Royal Caribbean Cruises in a research note on Thursday, September 29th. They issued a hold rating and a $81.00 target price for the company. Goldman Sachs Group, Inc. (The) restated a neutral rating and issued a $78.00 price objective on shares of Royal Caribbean Cruises in a research note on Wednesday, December 21st. Berenberg Bank restated a buy rating and issued a $100.00 price objective on shares of Royal Caribbean Cruises in a research note on Monday, November 7th. Finally, SunTrust Banks, Inc. set a $92.00 price objective on shares of Royal Caribbean Cruises and gave the stock a buy rating in a research note on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the stock. Royal Caribbean Cruises presently has a consensus rating of Buy and an average target price of $95.82.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 93.63 on Friday. The company’s 50-day moving average is $85.97 and its 200-day moving average is $76.74. Royal Caribbean Cruises has a 12-month low of $64.21 and a 12-month high of $96.09. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 15.79 and a beta of 1.24.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, January 26th. The company reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.02. Royal Caribbean Cruises had a net margin of 15.10% and a return on equity of 15.89%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises will post $6.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Wednesday, December 21st were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, December 19th. Royal Caribbean Cruises’s dividend payout ratio is currently 32.32%.
In other Royal Caribbean Cruises news, Director William K. Reilly sold 2,257 shares of Royal Caribbean Cruises stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $94.52, for a total value of $213,331.64. Following the transaction, the director now owns 15,011 shares in the company, valued at $1,418,839.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Wilhelmsen A. S. A sold 3,600,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $84.02, for a total value of $302,472,000.00. Following the completion of the transaction, the insider now owns 24,899,253 shares in the company, valued at approximately $2,092,035,237.06. The disclosure for this sale can be found here. Insiders have sold 3,624,364 shares of company stock valued at $304,377,318 in the last three months. Insiders own 16.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA boosted its position in 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 in the last quarter. MD Sass Investors Services Inc. boosted its position in Royal Caribbean Cruises by 1,406.8% in the second quarter. MD Sass Investors Services Inc. now owns 883,334 shares of the company’s stock worth $59,312,000 after buying an additional 824,709 shares in the last quarter. HG Vora Capital Management LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth about $59,960,000. Ameriprise Financial Inc. boosted its position in Royal Caribbean Cruises by 96.7% in the third quarter. Ameriprise Financial Inc. now owns 1,223,046 shares of the company’s stock worth $91,676,000 after buying an additional 601,344 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 76.27% of the company’s stock.
Royal Caribbean Cruises Company Profile
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.