Royal Caribbean Cruises Ltd. (RCL) Shares Down 6.7%
Royal Caribbean Cruises Ltd. (NYSE:RCL) fell 6.7% on Tuesday . The company traded as low as $66.86 and last traded at $67.05, with a volume of 4,833,581 shares changing hands. The stock had previously closed at $71.86.
A number of brokerages have recently weighed in on RCL. Tigress Financial upgraded Royal Caribbean Cruises to a “buy” rating in a report on Tuesday, May 31st. Credit Suisse Group AG reiterated a “buy” rating on shares of Royal Caribbean Cruises in a report on Tuesday, May 24th. Vetr downgraded Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating and set a $84.42 price target for the company. in a report on Monday, April 11th. SunTrust Banks Inc. reduced their price objective on Royal Caribbean Cruises from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, May 2nd. Finally, Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $94.69.
The firm has a market cap of $14.50 billion and a P/E ratio of 20.50. The company has a 50-day moving average price of $71.43 and a 200 day moving average price of $75.25.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 2nd. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises Ltd. will post $6.22 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the company. MUFG Americas purchased a new position in Royal Caribbean Cruises during the third quarter worth $2,883,000. OppenheimerFunds Inc. raised its position in Royal Caribbean Cruises by 46.6% in the fourth quarter. OppenheimerFunds Inc. now owns 95,197 shares of the company’s stock worth $9,642,000 after buying an additional 30,257 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Royal Caribbean Cruises by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,211 shares of the company’s stock worth $1,135,000 after buying an additional 188 shares during the last quarter. Morgan Stanley raised its position in Royal Caribbean Cruises by 30.8% in the fourth quarter. Morgan Stanley now owns 269,024 shares of the company’s stock worth $27,229,000 after buying an additional 63,283 shares during the last quarter. Finally, Bank of Montreal Can raised its position 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.