Royal Caribbean Cruises Ltd. (RCL) Stake Lifted by Lazard Asset Management LLC
Lazard Asset Management LLC lifted its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 17.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,771 shares of the company’s stock after acquiring an additional 34,434 shares during the quarter. Lazard Asset Management LLC owned 0.11% of Royal Caribbean Cruises worth $25,206,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 25.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after acquiring an additional 200 shares during the period. NEXT Financial Group Inc increased its stake in shares of Royal Caribbean Cruises by 9.0% during the second quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock worth $119,000 after acquiring an additional 90 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth about $119,000. Acadian Asset Management LLC increased its stake in shares of Royal Caribbean Cruises by 447.1% during the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after acquiring an additional 1,453 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth about $203,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
A number of brokerages have recently issued reports on RCL. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Thursday, September 14th. Stifel Nicolaus reissued a “buy” rating and set a $134.00 price objective on shares of Royal Caribbean Cruises in a report on Thursday, September 7th. BidaskClub raised shares of Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 17th. Goldman Sachs Group, Inc. (The) downgraded shares of Royal Caribbean Cruises to a “sell” rating in a report on Tuesday, August 15th. Finally, UBS AG reissued a “buy” rating and set a $131.00 price objective (up previously from $112.00) on shares of Royal Caribbean Cruises in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $118.49.
Royal Caribbean Cruises Ltd. (RCL) opened at 115.54 on Thursday. Royal Caribbean Cruises Ltd. has a 52 week low of $67.06 and a 52 week high of $125.00. The stock has a market cap of $24.85 billion, a P/E ratio of 16.21 and a beta of 1.03. The company’s 50 day moving average is $120.04 and its 200 day moving average is $109.23.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. Equities analysts predict that Royal Caribbean Cruises Ltd. will post $7.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.40 annualized dividend and a dividend yield of 2.08%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s payout ratio is currently 26.97%.
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In other Royal Caribbean Cruises news, COO Adam M. Goldstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $118.21, for a total value of $14,185,200.00. Following the completion of the transaction, the chief operating officer now directly owns 191,252 shares in the company, valued at $22,607,898.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard D. Fain sold 210,706 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total transaction of $24,406,075.98. Following the completion of the transaction, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. 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. Corporate insiders own 15.30% 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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