Royal Caribbean Cruises Ltd. (NYSE:RCL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $130.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.43% from the stock’s current price.
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 United States, 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. 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. Even so, its capacity growth should aid in meeting increased demand while ship innovation and technology investments should lead to higher yields.”
Several other brokerages have also commented on RCL. BidaskClub upgraded shares of Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 17th. Wedbush reiterated an “outperform” rating and set a $129.00 price objective (up previously from $125.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. UBS AG reiterated a “buy” rating and set a $131.00 price objective (up previously from $112.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) lowered shares of Royal Caribbean Cruises to a “sell” rating in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $134.00 price objective on shares of Royal Caribbean Cruises in a research note on Thursday, September 7th. Two equities 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 stock. The stock currently has an average rating of “Buy” and a consensus target price of $118.14.
Royal Caribbean Cruises (RCL) traded down 0.47% during trading on Friday, reaching $115.64. The company’s stock had a trading volume of 908,536 shares. The stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 16.22 and a beta of 1.03. Royal Caribbean Cruises has a 52 week low of $67.06 and a 52 week high of $125.00. The firm has a 50 day moving average of $120.04 and a 200 day moving average of $109.23.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, beating 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 company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business earned $1.09 earnings per share. Royal Caribbean Cruises’s revenue was up 4.3% compared to the same quarter last year. Analysts expect 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 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $121.29, for a total value 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 approximately $112,525,705.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 7,580 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $119.61, for a total transaction of $906,643.80. Following the completion of the transaction, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately $2,809,997.73. The disclosure for this sale can be found here. Insiders sold a total of 480,079 shares of company stock valued at $56,139,855 in the last ninety days. Company insiders own 15.30% of the company’s stock.
Several large investors have recently modified their holdings of RCL. BlackRock Inc. boosted its stake in shares of Royal Caribbean Cruises by 3,290.6% during 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 during the period. Vanguard Group Inc. boosted its stake in shares of Royal Caribbean Cruises by 4.1% during 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 during the period. PNC Financial Services Group Inc. boosted its stake in shares of Royal Caribbean Cruises by 1,754.5% during 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 during the period. Capital Growth Management LP acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $61,933,000. Finally, American Century Companies Inc. boosted its stake in shares of Royal Caribbean Cruises by 9,025.9% during 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 during the period. 71.51% 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).
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