Royal Caribbean Cruises Ltd. (RCL) Shares Gap Up to $71.11
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) gapped up before the market opened on Thursday . The stock had previously closed at $71.05, but opened at $71.11. Royal Caribbean Cruises shares last traded at $72.12, with a volume of 1,570,155 shares changing hands.
Several brokerages have issued reports on RCL. Stifel Nicolaus dropped their target price on Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Wednesday, June 29th. Morgan Stanley dropped their target price on Royal Caribbean Cruises from $99.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 26th. Vetr cut Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating and set a $84.42 target price on the stock. in a research report on Monday, May 16th. Finally, Sterne Agee CRT began coverage on Royal Caribbean Cruises in a research report on Tuesday, June 7th. They set a “neutral” rating and a $83.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $95.08.
The company’s 50 day moving average price is $71.25 and its 200-day moving average price is $74.28. The firm has a market cap of $15.65 billion and a PE ratio of 20.75.
Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, August 2nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current fiscal year.
In other news, CEO Richard D. Fain bought 29,190 shares of the stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now owns 1,068,881 shares in the company, valued at approximately $73,239,726.12. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vagn O. Sorensen bought 1,100 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were purchased at an average price of $70.50 per share, with a total value of $77,550.00. Following the purchase, the director now owns 18,871 shares of the company’s stock, valued at approximately $1,330,405.50. The disclosure for this purchase can be found here.
A number of institutional investors recently added to or reduced their stakes in RCL. Bank of Montreal Can increased 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 valued at $13,803,000 after buying an additional 64,760 shares in the last quarter. BlackRock Advisors LLC increased its position in Royal Caribbean Cruises by 44.1% in the fourth quarter. BlackRock Advisors LLC now owns 157,302 shares of the company’s stock valued at $15,920,000 after buying an additional 48,118 shares in the last quarter. Finally, Employees Retirement System of Texas increased its position 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 valued at $1,518,000 after buying an additional 2,000 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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