Duality Advisers LP purchased a new position in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) in the second quarter, HoldingsChannel reports. The fund purchased 27,691 shares of the company’s stock, valued at approximately $1,393,000.
Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of Royal Caribbean Cruises in the first quarter worth $454,688,000. State Street Corp grew its position in Royal Caribbean Cruises by 1.7% during the 1st quarter. State Street Corp now owns 7,732,484 shares of the company’s stock worth $254,455,000 after purchasing an additional 130,747 shares during the period. Eminence Capital LP grew its position in Royal Caribbean Cruises by 220.8% during the 1st quarter. Eminence Capital LP now owns 6,183,058 shares of the company’s stock worth $198,909,000 after purchasing an additional 4,255,837 shares during the period. Geode Capital Management LLC raised its stake in shares of Royal Caribbean Cruises by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 2,737,020 shares of the company’s stock valued at $87,879,000 after buying an additional 96,277 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Royal Caribbean Cruises by 2,349.2% in the 1st quarter. Capital World Investors now owns 2,277,711 shares of the company’s stock valued at $73,274,000 after buying an additional 2,184,711 shares during the period. Institutional investors and hedge funds own 66.86% of the company’s stock.
A number of brokerages have issued reports on RCL. Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $62.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Credit Suisse Group began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, May 21st. They issued an “outperform” rating and a $67.00 target price for the company. TheStreet lowered shares of Royal Caribbean Cruises from a “c” rating to a “d+” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $50.00 to $72.00 in a research report on Thursday, June 11th. Finally, Morgan Stanley began coverage on shares of Royal Caribbean Cruises in a research note on Wednesday, June 3rd. They set an “underweight” rating and a $33.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Royal Caribbean Cruises currently has an average rating of “Hold” and a consensus price target of $80.11.
Shares of RCL opened at $48.71 on Friday. The stock has a 50 day moving average price of $52.28 and a 200 day moving average price of $63.46. Royal Caribbean Cruises Ltd has a one year low of $19.25 and a one year high of $135.32. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.49 and a current ratio of 0.51. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 57.99 and a beta of 2.50.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Wednesday, May 20th. The company reported ($1.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.85). The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2 billion. Royal Caribbean Cruises had a return on equity of 12.34% and a net margin of 1.75%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, analysts predict that Royal Caribbean Cruises Ltd will post -14.6 earnings per share for the current year.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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