Royal Caribbean Cruises Ltd. (RCL) Receives New Coverage from Analysts at Macquarie
Macquarie started coverage on shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in a research note issued to investors on Tuesday morning. The firm issued an outperform rating and a $88.00 price objective on the stock.
Other equities analysts also recently issued reports about the stock. Citigroup Inc. reissued a buy rating and issued a $95.00 price target on shares of Royal Caribbean Cruises in a research note on Wednesday, August 24th. Zacks Investment Research raised shares of Royal Caribbean Cruises from a hold rating to a buy rating and set a $74.00 price target on the stock in a research note on Wednesday, June 29th. Nomura reissued a buy rating on shares of Royal Caribbean Cruises in a research note on Wednesday, June 15th. 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. Finally, Stifel Nicolaus decreased their price target on shares of Royal Caribbean Cruises from $94.00 to $93.00 and set a buy rating on the stock in a research note on Wednesday, August 3rd. Six analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Royal Caribbean Cruises presently has a consensus rating of Buy and a consensus price target of $93.12.
Shares of Royal Caribbean Cruises (NYSE:RCL) traded up 0.24% during trading on Tuesday, reaching $75.40. 757,525 shares of the company’s stock were exchanged. Royal Caribbean Cruises has a 12-month low of $64.21 and a 12-month high of $103.40. The company has a 50 day moving average of $70.20 and a 200 day moving average of $73.72. The stock has a market cap of $16.23 billion, a P/E ratio of 21.52 and a beta of 1.65.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises will post $6.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be paid a $0.48 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. This represents a $1.92 annualized dividend and a yield of 2.55%. The ex-dividend date is Tuesday, September 27th. Royal Caribbean Cruises’s payout ratio is currently 55.01%.
In other Royal Caribbean Cruises news, CEO Lisa Lutoff-Perlo sold 6,790 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $74.46, for a total value of $505,583.40. Following the transaction, the chief executive officer now directly owns 34,450 shares of the company’s stock, valued at approximately $2,565,147. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard D. Fain acquired 29,190 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was purchased at an average cost of $68.52 per share, for a total transaction of $2,000,098.80. Following the completion of the purchase, the chief executive officer now directly owns 1,068,881 shares in the company, valued at approximately $73,239,726.12. The disclosure for this purchase can be found here. 16.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services Inc boosted its position in shares of Royal Caribbean Cruises by 1.2% in the first quarter. Commonwealth Equity Services Inc now owns 7,726 shares of the company’s stock valued at $635,000 after buying an additional 92 shares in the last quarter. IFP Advisors Inc boosted its position in Royal Caribbean Cruises by 33.3% in the first quarter. IFP Advisors Inc now owns 1,416 shares of the company’s stock worth $116,000 after buying an additional 354 shares during the period. Prudential Financial Inc. boosted its position in Royal Caribbean Cruises by 2.7% in the first quarter. Prudential Financial Inc. now owns 223,685 shares of the company’s stock worth $18,376,000 after buying an additional 5,900 shares during the period. RMB Capital Management LLC boosted its position in Royal Caribbean Cruises by 81.1% in the first quarter. RMB Capital Management LLC now owns 47,147 shares of the company’s stock worth $3,873,000 after buying an additional 21,117 shares during the period. Finally, Mckinley Capital Management LLC Delaware boosted its position in Royal Caribbean Cruises by 10.5% in the first quarter. Mckinley Capital Management LLC Delaware now owns 69,632 shares of the company’s stock worth $5,720,000 after buying an additional 6,643 shares during the period. 75.04% 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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