Royal Caribbean Cruises Ltd. (NYSE:RCL)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a note issued to investors on Tuesday. They currently have a $129.00 price objective on the stock, up from their previous price objective of $125.00. Wedbush’s price objective suggests a potential upside of 7.68% from the company’s previous close.
RCL has been the subject of a number of other reports. Nomura boosted their target price on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) raised Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and boosted their target price for the company from $99.00 to $115.00 in a research report on Wednesday, August 2nd. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research report on Friday. Deutsche Bank AG decreased their target price on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Finally, UBS AG reaffirmed a “buy” rating and issued a $131.00 target price (up from $112.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $117.23.
Royal Caribbean Cruises (NYSE RCL) traded up 1.73% during trading on Tuesday, reaching $119.80. The company’s stock had a trading volume of 2,409,552 shares. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 16.81 and a beta of 1.06. The firm has a 50 day moving average price of $112.38 and a 200-day moving average price of $103.07. Royal Caribbean Cruises has a 52-week low of $65.10 and a 52-week high of $121.47.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.09 EPS. On average, analysts expect that Royal Caribbean Cruises will post $7.43 earnings per share for the current year.
Royal Caribbean Cruises announced that its Board of Directors has initiated a share buyback program on Friday, April 28th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
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In related news, Director Bernt Reitan sold 4,793 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $117.22, for a total value of $561,835.46. Following the sale, the director now owns 7,862 shares in the company, valued at $921,583.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the sale, the chief executive officer now owns 967,741 shares in the company, valued at approximately $106,083,768.42. The disclosure for this sale can be found here. Insiders sold 452,499 shares of company stock worth $52,583,811 in the last quarter. 15.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc boosted its position in Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares in the last quarter. Advisors Preferred LLC purchased a new position in Royal Caribbean Cruises during the first quarter worth approximately $103,000. Oppenheimer Asset Management Inc. purchased a new position in Royal Caribbean Cruises during the first quarter worth approximately $119,000. Whittier Trust Co. boosted its position in Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares in the last quarter. 71.67% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Company Profile
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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