Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives $93.36 Consensus Price Target from Brokerages
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have received a consensus rating of “Buy” from the twenty-three ratings firms that are covering the firm. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $92.59.
RCL has been the topic of a number of research analyst reports. Argus cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Stifel Nicolaus cut their target price on Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Zacks Investment Research upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Sterne Agee CRT initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, June 7th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Thursday, September 8th. They set an “outperform” rating and a $90.00 target price on the stock.
In related news, CEO Michael W. Bayley sold 12,183 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $71.07, for a total value of $865,845.81. Following the sale, the chief executive officer now owns 82,943 shares of the company’s stock, valued at approximately $5,894,759.01. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vagn O. Sorensen bought 1,100 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 18th. The stock was bought at an average cost of $70.50 per share, for a total transaction of $77,550.00. Following the purchase, the director now owns 18,871 shares in the company, valued at approximately $1,330,405.50. The disclosure for this purchase can be found here. 16.80% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Carnick & Kubik Group LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth about $834,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Royal Caribbean Cruises during the second quarter worth about $455,000. Kentucky Retirement Systems bought a new stake in Royal Caribbean Cruises during the second quarter worth about $959,000. Mason Street Advisors LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth about $1,519,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Royal Caribbean Cruises by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,114 shares of the company’s stock worth $411,000 after buying an additional 442 shares during the last quarter. 75.04% of the stock is currently owned by hedge funds and other institutional investors.
Royal Caribbean Cruises (NYSE:RCL) opened at 74.25 on Tuesday. The firm’s 50-day moving average price is $69.88 and its 200-day moving average price is $73.72. The stock has a market cap of $15.98 billion, a P/E ratio of 21.19 and a beta of 1.73. Royal Caribbean Cruises has a 12 month low of $64.21 and a 12 month high of $103.40.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.07. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. Royal Caribbean Cruises’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts predict that Royal Caribbean Cruises will post $6.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, September 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $1.92 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. Royal Caribbean Cruises’s dividend payout ratio is presently 55.01%.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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