Royal Caribbean Cruises Ltd. (RCL) PT Set at $88.00 by Wedbush
Royal Caribbean Cruises Ltd. (NYSE:RCL) has been assigned a $88.00 price target by equities researchers at Wedbush in a research note issued to investors on Monday. The firm presently has a a “buy” rating on the stock. Wedbush’s price target suggests a potential upside of 6.06% from the company’s current price.
RCL has been the subject of a number of other research reports. Argus lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Stifel Nicolaus decreased their price objective on shares of Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. lowered shares of Royal Caribbean Cruises from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $96.00 to $73.00 in a research note on Thursday, October 27th. Finally, Macquarie assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, October 4th. They issued an “outperform” rating and a $88.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $91.64.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 82.97 on Monday. The stock’s 50 day moving average price is $73.68 and its 200-day moving average price is $72.77. The firm has a market capitalization of $17.80 billion, a P/E ratio of 14.67 and a beta of 1.26. 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 posted its quarterly earnings data on Friday, October 28th. The company reported $3.20 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.10. Royal Caribbean Cruises had a net margin of 14.48% and a return on equity of 15.29%. The firm earned $2.56 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business posted $2.84 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts expect that Royal Caribbean Cruises will post $6.07 EPS for the current year.
In other news, SVP Henry L. Pujol sold 7,600 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $75.93, for a total transaction of $577,068.00. Following the transaction, the senior vice president now owns 46,959 shares in the company, valued at approximately $3,565,596.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bernt Reitan sold 8,691 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $76.53, for a total transaction of $665,122.23. Following the transaction, the director now owns 19,768 shares in the company, valued at approximately $1,512,845.04. The disclosure for this sale can be found here. Insiders own 16.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in Royal Caribbean Cruises by 31.6% in the second quarter. Primecap Management Co. CA now owns 7,721,989 shares of the company’s stock valued at $518,532,000 after buying an additional 1,852,117 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Royal Caribbean Cruises during the second quarter valued at about $80,476,000. MD Sass Investors Services Inc. increased its position in Royal Caribbean Cruises by 1,406.8% in the second quarter. MD Sass Investors Services Inc. now owns 883,334 shares of the company’s stock valued at $59,312,000 after buying an additional 824,709 shares during the last quarter. HG Vora Capital Management LLC bought a new position in Royal Caribbean Cruises during the third quarter valued at about $59,960,000. Finally, Ameriprise Financial Inc. increased its position in Royal Caribbean Cruises by 96.7% in the third quarter. Ameriprise Financial Inc. now owns 1,223,046 shares of the company’s stock valued at $91,676,000 after buying an additional 601,344 shares during the last quarter. Institutional investors own 75.58% of the company’s stock.
About Royal Caribbean Cruises
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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