Royal Caribbean Cruises Ltd. (RCL) Stock Rating Lowered by Zacks Investment Research
Royal Caribbean Cruises Ltd. (NYSE:RCL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Royal Caribbean shares have outpaced the industry in the past year. Given solid performance in the last reported quarter along with favorable booking trends, the company raised its full-year 2017 earnings view. Going forward, the company’s sailings in the U.S., Europe, Alaska, Baltic and Asia, are likely to continue performing strongly. The company thus remains positioned to witness another record year and achieve its targets under the Double-Double program. While, its capacity growth should aid in meeting increased demand, ship innovation and technology investments should lead to higher yields. However, higher costs might hurt the company’s profitability in the near term. Further, lingering global uncertainties in key operating regions, along with negative currency translation remain concerns.”
Several other research analysts have also recently issued reports on the company. ValuEngine raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $111.00 to $130.00 in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) started coverage on Royal Caribbean Cruises in a research report on Monday, July 24th. They set a “neutral” rating on the stock. Bank of America Corporation started coverage on Royal Caribbean Cruises in a research report on Monday, July 24th. They set a “neutral” rating and a $123.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $134.00 target price on shares of Royal Caribbean Cruises in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $118.49.
Royal Caribbean Cruises (RCL) opened at 123.50 on Wednesday. The firm’s 50-day moving average price is $119.51 and its 200-day moving average price is $108.56. Royal Caribbean Cruises has a 52-week low of $65.45 and a 52-week high of $125.00. The firm has a market cap of $26.57 billion, a P/E ratio of 17.33 and a beta of 1.03.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that Royal Caribbean Cruises will post $7.44 EPS for the current year.
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In related news, CEO Richard D. Fain sold 210,706 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $109.62, for a total value of $2,192,400.00. Following the sale, the chief executive officer now owns 967,741 shares in the company, valued at $106,083,768.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 480,079 shares of company stock worth $56,139,855. 15.30% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in RCL. BlackRock Inc. raised its stake in shares of Royal Caribbean Cruises by 3,290.6% during the 1st quarter. BlackRock Inc. now owns 10,359,358 shares of the company’s stock valued at $1,016,356,000 after purchasing an additional 10,053,823 shares during the period. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after purchasing an additional 673,608 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Royal Caribbean Cruises by 1,754.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 684,387 shares of the company’s stock valued at $74,756,000 after purchasing an additional 647,483 shares during the period. Capital Growth Management LP bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $61,933,000. Finally, American Century Companies Inc. raised its stake in shares of Royal Caribbean Cruises by 9,025.9% during the 2nd quarter. American Century Companies Inc. now owns 531,677 shares of the company’s stock valued at $58,075,000 after purchasing an additional 525,851 shares during the period. Institutional investors own 71.60% of the company’s stock.
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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