Q3 2017 EPS Estimates for Royal Caribbean Cruises Ltd. Reduced by Wedbush (RCL)
Royal Caribbean Cruises Ltd. (NYSE:RCL) – Equities research analysts at Wedbush cut their Q3 2017 earnings per share estimates for shares of Royal Caribbean Cruises in a report released on Tuesday. Wedbush analyst J. Hardiman now anticipates that the company will earn $3.39 per share for the quarter, down from their prior forecast of $3.45. Wedbush has a “Outperform” rating and a $129.00 price target on the stock. Wedbush also issued estimates for Royal Caribbean Cruises’ FY2017 earnings at $7.36 EPS.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 earnings per share.
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Several other analysts also recently commented on the company. Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Stifel Nicolaus restated a “buy” rating and issued a $134.00 target price on shares of Royal Caribbean Cruises in a research note on Thursday, September 7th. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and raised their target price for the company from $111.00 to $130.00 in a research note on Thursday, July 20th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Royal Caribbean Cruises in a research note on Monday, July 24th. They issued a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $118.49.
Shares of Royal Caribbean Cruises (NYSE RCL) opened at 120.92 on Thursday. Royal Caribbean Cruises has a one year low of $65.45 and a one year high of $125.00. The stock has a 50 day moving average price of $119.72 and a 200-day moving average price of $108.73. The company has a market capitalization of $26.01 billion, a price-to-earnings ratio of 16.96 and a beta of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, September 21st. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is 26.97%.
In related news, CEO Richard D. Fain sold 210,706 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the completion of the transaction, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the completion of the transaction, the chief executive officer now owns 927,741 shares of the company’s stock, valued at $112,525,705.89. The disclosure for this sale can be found here. Insiders sold a total of 480,079 shares of company stock worth $56,139,855 in the last ninety days. 15.30% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in RCL. BlackRock Inc. grew its stake in Royal Caribbean Cruises by 3,290.6% in the 1st quarter. BlackRock Inc. now owns 10,359,358 shares of the company’s stock valued at $1,016,356,000 after buying an additional 10,053,823 shares in the last quarter. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after buying an additional 673,608 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Royal Caribbean Cruises by 1,754.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 684,387 shares of the company’s stock valued at $74,756,000 after buying an additional 647,483 shares in the last quarter. Capital Growth Management LP purchased a new position in Royal Caribbean Cruises in the 2nd quarter valued at approximately $61,933,000. Finally, American Century Companies Inc. grew its stake in Royal Caribbean Cruises by 9,025.9% in the 2nd quarter. American Century Companies Inc. now owns 531,677 shares of the company’s stock valued at $58,075,000 after buying an additional 525,851 shares in the last quarter. Institutional investors and hedge funds own 71.60% of the company’s stock.
About Royal Caribbean Cruises
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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