Zacks Investment Research upgraded shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) from a hold rating to a buy rating in a report issued on Thursday. Zacks Investment Research currently has $137.00 price target on the stock.
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. 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. Even so, its capacity growth should aid in meeting increased demand while ship innovation and technology investments should lead to higher yields.”
Other equities analysts have also issued research reports about the stock. Nomura boosted their price objective on shares of Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Buckingham Research boosted their price objective on shares of Royal Caribbean Cruises to $149.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Wedbush boosted their price objective on shares of Royal Caribbean Cruises from $125.00 to $129.00 and gave the stock an outperform rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded shares of Royal Caribbean Cruises from a sell rating to a neutral rating and boosted their price objective for the stock from $99.00 to $115.00 in a report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co upgraded shares of Royal Caribbean Cruises from a neutral rating to an overweight rating and boosted their price objective for the stock from $111.00 to $130.00 in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $118.49.
Shares of Royal Caribbean Cruises (NYSE RCL) opened at 120.92 on Thursday. The firm has a market capitalization of $26.01 billion, a PE ratio of 16.96 and a beta of 1.03. The firm has a 50-day moving average price of $119.72 and a 200-day moving average price of $108.73. Royal Caribbean Cruises has a 1-year low of $65.45 and a 1-year high of $125.00.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business posted $1.09 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises will post $7.44 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be paid a dividend of $0.60 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.40 annualized dividend and a yield of 1.98%. Royal Caribbean Cruises’s dividend payout ratio is 26.97%.
In related news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $109.62, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard D. Fain sold 210,706 shares of the stock in a transaction dated 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 owns 967,741 shares in the company, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 480,079 shares of company stock worth $56,139,855. 15.30% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. raised its stake in Royal Caribbean Cruises by 37.4% during the second quarter. Achmea Investment Management B.V. now owns 9,769 shares of the company’s stock worth $1,065,000 after acquiring an additional 2,658 shares during the period. USA Financial Portformulas Corp raised its stake in Royal Caribbean Cruises by 656.7% during the second quarter. USA Financial Portformulas Corp now owns 37,948 shares of the company’s stock worth $4,145,000 after acquiring an additional 32,933 shares during the period. Toronto Dominion Bank raised its stake in Royal Caribbean Cruises by 25.7% during the second quarter. Toronto Dominion Bank now owns 56,882 shares of the company’s stock worth $6,212,000 after acquiring an additional 11,626 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in Royal Caribbean Cruises during the second quarter worth about $713,000. Finally, Advisory Services Network LLC raised its stake in Royal Caribbean Cruises by 10.2% during the second quarter. Advisory Services Network LLC now owns 3,807 shares of the company’s stock worth $416,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 71.51% of the company’s stock.
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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