Royal Caribbean Cruises Ltd. (RCL) Shares Down 3.2%
Royal Caribbean Cruises Ltd. (NYSE:RCL) dropped 3.2% during mid-day trading on Friday . The company traded as low as $70.10 and last traded at $70.35, with a volume of 1,364,824 shares traded. The stock had previously closed at $72.71.
RCL has been the topic of a number of recent research reports. Citigroup Inc. restated a “buy” rating and issued a $95.00 target price on shares of Royal Caribbean Cruises in a report on Wednesday, August 24th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Nomura restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Wednesday, June 15th. Credit Suisse Group AG restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Tuesday, May 24th. Finally, Sterne Agee CRT began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, June 7th. They issued a “neutral” rating and a $83.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. Royal Caribbean Cruises currently has a consensus rating of “Buy” and a consensus target price of $95.08.
The firm’s 50-day moving average price is $71.25 and its 200-day moving average price is $74.28. The company has a market cap of $15.07 billion and a PE ratio of 19.98.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.02 by $0.07. During the same period in the previous year, the business posted $0.84 earnings per share. The business earned $2.11 billion during the quarter, compared to analyst estimates of $2.17 billion. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current year.
In other news, Director Vagn O. Sorensen bought 1,100 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were acquired at an average price of $70.50 per share, for a total transaction of $77,550.00. Following the completion of the transaction, the director now directly owns 18,871 shares in the company, valued at approximately $1,330,405.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard D. Fain bought 29,190 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $68.52 per share, for a total transaction of $2,000,098.80. Following the transaction, 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.
Other institutional investors recently made changes to their positions in the company. BlackRock Advisors LLC increased its stake in Royal Caribbean Cruises by 44.1% in the fourth quarter. BlackRock Advisors LLC now owns 157,302 shares of the company’s stock worth $15,920,000 after buying an additional 48,118 shares in the last quarter. Employees Retirement System of Texas increased 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 in the last quarter. Finally, Bank of Montreal Can increased 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 in 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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