Royal Caribbean Cruises Ltd. (RCL) Receives New Coverage from Analysts at Deutsche Bank AG
Deutsche Bank AG began coverage on shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in a report published on Thursday morning. The brokerage issued a hold rating and a $81.00 price objective on the stock.
A number of other research analysts also recently commented on the company. Citigroup Inc. reiterated a buy rating and issued a $95.00 price objective on shares of Royal Caribbean Cruises in a report on Wednesday, August 24th. Stifel Nicolaus decreased their target price on Royal Caribbean Cruises from $99.00 to $94.00 and set a buy rating for the company in a research report on Thursday, July 28th. Zacks Investment Research raised Royal Caribbean Cruises from a sell rating to a hold rating in a research report on Thursday, September 22nd. Credit Suisse Group AG reissued a buy rating and issued a $100.00 target price on shares of Royal Caribbean Cruises in a research report on Wednesday, August 3rd. Finally, Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research report on Thursday, September 8th. They issued an outperform rating and a $90.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of Buy and an average target price of $92.86.
Shares of Royal Caribbean Cruises (NYSE:RCL) traded up 1.385% during midday trading on Thursday, reaching $75.278. The company’s stock had a trading volume of 559,075 shares. The stock’s 50-day moving average price is $69.88 and its 200-day moving average price is $73.73. Royal Caribbean Cruises has a 12-month low of $64.21 and a 12-month high of $103.40. The company has a market cap of $16.20 billion, a P/E ratio of 21.483 and a beta of 1.73.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that Royal Caribbean Cruises will post $6.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Thursday, September 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, September 27th. Royal Caribbean Cruises’s payout ratio is presently 55.01%.
In other Royal Caribbean Cruises news, Director Vagn O. Sorensen bought 1,100 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were acquired at an average cost of $70.50 per share, with a total value of $77,550.00. Following the completion of the transaction, the director now owns 18,871 shares in the company, valued at $1,330,405.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard D. Fain bought 29,190 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were acquired at an average cost of $68.52 per share, for a total transaction of $2,000,098.80. Following the completion of the transaction, the chief executive officer now owns 1,068,881 shares of the company’s stock, valued at approximately $73,239,726.12. The disclosure for this purchase can be found here. Insiders own 16.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. MU Investments Co. Ltd. acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth about $109,000. IFP Advisors Inc raised its stake in shares of Royal Caribbean Cruises by 33.3% in the first quarter. IFP Advisors Inc now owns 1,416 shares of the company’s stock valued at $116,000 after buying an additional 354 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at $142,000. Mizuho Asset Management Co. Ltd. raised its stake in shares of Royal Caribbean Cruises by 86.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock valued at $156,000 after buying an additional 1,075 shares in the last quarter. Finally, Invictus RG purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at $164,000. 75.04% 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 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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