Brokerages Set Royal Caribbean Cruises Ltd. (RCL) Price Target at $101.16
Royal Caribbean Cruises Ltd. (NYSE:RCL) has been assigned an average rating of “Buy” from the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $104.04.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. Deutsche Bank AG lowered their target price on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, May 2nd. ValuEngine raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reissued an “outperform” rating and set a $119.50 target price (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. Finally, Wedbush increased their target price on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 25th.
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In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 7,527 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $110.00, for a total value of $827,970.00. Following the completion of the sale, the executive vice president now owns 29,667 shares in the company, valued at approximately $3,263,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the completion of the sale, the chief executive officer now owns 1,007,741 shares of the company’s stock, valued at approximately $108,604,247.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,527 shares of company stock valued at $5,175,770. 15.30% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. increased its stake in Royal Caribbean Cruises by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock worth $259,000 after buying an additional 8 shares during the last quarter. Granahan Investment Management Inc. MA increased its stake in shares of Royal Caribbean Cruises by 0.4% in the first quarter. Granahan Investment Management Inc. MA now owns 2,882 shares of the company’s stock worth $283,000 after buying an additional 11 shares in the last quarter. Cleararc Capital Inc. increased its stake in shares of Royal Caribbean Cruises by 0.6% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the company’s stock worth $402,000 after buying an additional 25 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 1.1% in the first quarter. BKD Wealth Advisors LLC now owns 3,944 shares of the company’s stock worth $387,000 after buying an additional 42 shares in the last quarter. Finally, NEXT Financial Group Inc increased its stake in shares of Royal Caribbean Cruises by 9.0% in the second quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock worth $119,000 after buying an additional 90 shares in the last quarter. Institutional investors own 71.14% of the company’s stock.
Shares of Royal Caribbean Cruises (RCL) traded down 0.30% during mid-day trading on Tuesday, reaching $114.91. The company’s stock had a trading volume of 1,467,887 shares. Royal Caribbean Cruises has a one year low of $65.10 and a one year high of $116.36. The firm’s 50 day moving average is $111.08 and its 200 day moving average is $100.88. The firm has a market cap of $24.71 billion, a PE ratio of 17.76 and a beta of 1.06.
Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Royal Caribbean Cruises will post $7.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.67%. Royal Caribbean Cruises’s payout ratio is 29.68%.
Royal Caribbean Cruises announced that its board has approved a share buyback plan on Friday, April 28th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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