Royal Caribbean Cruises Ltd. (RCL) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) from a hold rating to a buy rating in a research report report published on Friday. Zacks Investment Research currently has $136.00 price objective 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. While, its capacity growth should aid in meeting increased demand, ship innovation and technology investments should lead to higher yields. 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.”
Other research analysts also recently issued research reports about the company. Nomura boosted their target price on Royal Caribbean Cruises from $131.00 to $135.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. Wedbush boosted their target price on Royal Caribbean Cruises from $125.00 to $129.00 and gave the stock an outperform rating in a research note on Wednesday, August 2nd. Buckingham Research boosted their target price on Royal Caribbean Cruises to $149.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co raised Royal Caribbean Cruises from a neutral rating to an overweight rating and boosted their target price for the stock from $111.00 to $130.00 in a research note on Thursday, July 20th. Finally, Goldman Sachs Group, Inc. (The) raised Royal Caribbean Cruises from a sell rating to a neutral rating and boosted their target price for the stock from $99.00 to $115.00 in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $118.44.
Shares of Royal Caribbean Cruises (RCL) opened at 124.24 on Friday. Royal Caribbean Cruises has a 12 month low of $65.10 and a 12 month high of $125.00. The company’s 50 day moving average is $117.80 and its 200-day moving average is $107.17. The firm has a market cap of $26.73 billion, a PE ratio of 17.43 and a beta of 1.03.
Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion during 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 business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 earnings per share. Equities research analysts predict that Royal Caribbean Cruises will post $7.44 EPS for the current year.
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In related news, CEO Richard D. Fain sold 210,706 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total value of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at $112,093,440.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were 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 $106,083,768.42. The disclosure for this sale can be found here. Insiders sold 460,079 shares of company stock worth $53,714,055 over the last quarter. 15.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. boosted its holdings in Royal Caribbean Cruises by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock valued at $259,000 after acquiring an additional 8 shares during the last quarter. Granahan Investment Management Inc. MA boosted its holdings in Royal Caribbean Cruises by 0.4% in the first quarter. Granahan Investment Management Inc. MA now owns 2,882 shares of the company’s stock valued at $283,000 after acquiring an additional 11 shares during the last quarter. Cleararc Capital Inc. boosted its holdings in Royal Caribbean Cruises by 0.6% in the first quarter. Cleararc Capital Inc. now owns 4,095 shares of the company’s stock valued at $402,000 after acquiring an additional 25 shares during the last quarter. Morse Asset Management Inc boosted its holdings in Royal Caribbean Cruises by 0.7% in the second quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock valued at $374,000 after acquiring an additional 25 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Royal Caribbean Cruises by 1.2% in the second quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock valued at $268,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 71.60% 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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