J P Morgan Chase & Co Upgrades Royal Caribbean Cruises Ltd. (RCL) to Overweight

Royal Caribbean Cruises Ltd. (NYSE:RCL) was upgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday. The firm presently has a $130.00 target price on the stock, up from their prior target price of $111.00. J P Morgan Chase & Co’s price target would suggest a potential upside of 13.13% from the company’s current price.

RCL has been the subject of several other research reports. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. Deutsche Bank AG reduced their price objective on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research note on Tuesday, May 2nd. ValuEngine upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reiterated an “outperform” rating and issued a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. Finally, Wedbush lifted their price objective on shares of Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $105.31.

Royal Caribbean Cruises (RCL) opened at 114.91 on Thursday. Royal Caribbean Cruises has a 52-week low of $65.10 and a 52-week high of $116.36. The firm has a market cap of $24.71 billion, a P/E ratio of 17.76 and a beta of 1.06. The stock has a 50 day moving average price of $111.08 and a 200 day moving average price of $100.88.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business posted $0.57 EPS. Royal Caribbean Cruises’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises will post $7.24 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has approved a stock buyback plan on Friday, April 28th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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In other news, EVP Harri U. Kulovaara sold 7,527 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 1st. The shares were sold at an average price of $110.00, for a total transaction of $827,970.00. Following the completion of the sale, the executive vice president now directly owns 29,667 shares of the company’s stock, valued at approximately $3,263,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 15th. The stock was sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the sale, the chief executive officer now directly owns 1,007,741 shares of the company’s stock, valued at $108,604,247.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,527 shares of company stock valued at $5,175,770. Insiders own 15.30% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Advisors Preferred LLC bought a new stake in Royal Caribbean Cruises during the first quarter worth about $103,000. NEXT Financial Group Inc increased its stake in Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Royal Caribbean Cruises during the first quarter worth about $119,000. Whittier Trust Co. increased its stake in Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares in the last quarter. 71.14% of the stock is 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).

Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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