Argus Raises Royal Caribbean Cruises Ltd. (RCL) Price Target to $145.00
Royal Caribbean Cruises Ltd. (NYSE:RCL) had its price target upped by Argus from $135.00 to $145.00 in a report issued on Wednesday. The firm presently has a “buy” rating on the stock. Argus’ price target indicates a potential upside of 16.19% from the stock’s previous close.
Several other research analysts have also recently weighed in on RCL. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. J P Morgan Chase & Co upgraded shares of Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $111.00 to $130.00 in a report on Thursday, July 20th. Bank of America Corporation started coverage on shares of Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating and a $123.00 price target on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Royal Caribbean Cruises in a report on Monday, July 24th. They set a “neutral” rating on the stock. Finally, BidaskClub cut shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Royal Caribbean Cruises has a consensus rating of “Buy” and a consensus target price of $121.25.
Shares of Royal Caribbean Cruises (RCL) traded up 0.28% during midday trading on Wednesday, reaching $125.15. 1,364,290 shares of the company traded hands. The firm has a market capitalization of $26.92 billion, a PE ratio of 19.37 and a beta of 0.99. Royal Caribbean Cruises has a 12-month low of $67.53 and a 12-month high of $126.07. The company has a 50-day moving average of $120.03 and a 200 day moving average of $111.65.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Royal Caribbean Cruises will post $7.43 earnings per share for the current year.
In other news, CEO Richard D. Fain sold 210,706 shares of the business’s 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 sale, the chief executive officer now owns 967,741 shares of the company’s stock, valued at $112,093,440.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Adam M. Goldstein sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $118.21, for a total transaction of $14,185,200.00. Following the completion of the sale, the chief operating officer now directly owns 191,252 shares in the company, valued at approximately $22,607,898.92. The disclosure for this sale can be found here. In the last three months, insiders sold 480,079 shares of company stock worth $56,139,855. Insiders own 15.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of RCL. TLP Group LLC bought a new stake in shares of Royal Caribbean Cruises in the second quarter valued at approximately $105,000. Acrospire Investment Management LLC raised its position in shares of Royal Caribbean Cruises by 25.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after purchasing an additional 200 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the first quarter valued at approximately $119,000. NEXT Financial Group Inc raised its position in shares of Royal Caribbean Cruises by 9.0% in the second quarter. NEXT Financial Group Inc now owns 1,090 shares of the company’s stock valued at $119,000 after purchasing an additional 90 shares during the period. Finally, Pinebridge Investments L.P. bought a new stake in shares of Royal Caribbean Cruises in the second quarter valued at approximately $121,000. 71.51% of the stock is currently owned by institutional investors.
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).
Receive News & Stock Ratings for Royal Caribbean Cruises Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises Ltd. and related stocks with our FREE daily email newsletter.