Royal Caribbean Cruises Ltd. (NYSE:RCL) was down 2% during mid-day trading on Thursday . The company traded as low as $70.01 and last traded at $70.06, with a volume of 921,296 shares trading hands. The stock had previously closed at $71.52.

A number of equities research analysts recently issued reports on RCL shares. Morgan Stanley dropped their price target on shares of Royal Caribbean Cruises from $99.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Vetr cut shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating and set a $84.42 price target on the stock. in a research note on Monday, May 16th. Goldman Sachs Group Inc. lifted their price target on shares of Royal Caribbean Cruises from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $100.00 price target on shares of Royal Caribbean Cruises in a research note on Wednesday, August 3rd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Royal Caribbean Cruises presently has an average rating of “Buy” and an average target price of $94.63.

The stock has a 50 day moving average price of $70.95 and a 200 day moving average price of $74.22. The firm has a market cap of $14.95 billion and a P/E ratio of 19.81.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the business earned $0.84 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post $6.07 EPS for the current fiscal year.

In related news, CEO Michael W. Bayley sold 12,183 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $71.07, for a total transaction of $865,845.81. Following the sale, the chief executive officer now owns 82,943 shares of the company’s stock, valued at $5,894,759.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard D. Fain acquired 29,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average cost of $68.52 per share, for a total transaction of $2,000,098.80. Following the purchase, the chief executive officer now owns 1,068,881 shares of the company’s stock, valued at $73,239,726.12. The disclosure for this purchase can be found here.

Several hedge funds recently bought and sold shares of RCL. Suntrust Banks Inc. raised its stake in Royal Caribbean Cruises by 71.3% in the fourth quarter. Suntrust Banks Inc. now owns 13,742 shares of the company’s stock worth $1,390,000 after buying an additional 5,720 shares during the last quarter. Employees Retirement System of Texas raised its stake in Royal Caribbean Cruises by 15.4% in the fourth quarter. Employees Retirement System of Texas now owns 15,000 shares of the company’s stock worth $1,518,000 after buying an additional 2,000 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Royal Caribbean Cruises by 279.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 101,645 shares of the company’s stock worth $10,287,000 after buying an additional 74,841 shares during the last quarter. KBC Group NV raised its stake in Royal Caribbean Cruises by 24.8% in the fourth quarter. KBC Group NV now owns 110,576 shares of the company’s stock worth $11,191,000 after buying an additional 21,959 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Royal Caribbean Cruises by 90.4% in the fourth quarter. Bank of Montreal Can now owns 136,374 shares of the company’s stock worth $13,803,000 after buying an additional 64,760 shares during the last quarter.

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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