Deutsche Bank AG started coverage on shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in a research report sent to investors on Thursday morning. The firm issued a hold rating and a $81.00 price objective on the stock.
Several other analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a sell rating to a hold rating in a research report on Thursday, September 22nd. Nomura reiterated a buy rating and issued a $83.00 price target on shares of Royal Caribbean Cruises in a research report on Wednesday, September 14th. Stifel Nicolaus reiterated a buy rating on shares of Royal Caribbean Cruises in a research report on Friday, September 9th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research report on Thursday, September 8th. They issued an outperform rating and a $90.00 price target for the company. Finally, Argus downgraded shares of Royal Caribbean Cruises from a buy rating to a hold rating in a research report on Wednesday, September 7th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $92.86.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 74.57 on Thursday. Royal Caribbean Cruises has a 12 month low of $64.21 and a 12 month high of $103.40. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of 21.28 and a beta of 1.65. The stock has a 50 day moving average of $70.10 and a 200 day moving average of $73.74.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.07. The business earned $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. On average, equities research analysts expect that Royal Caribbean Cruises will post $6.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Tuesday, September 27th. Royal Caribbean Cruises’s dividend payout ratio is 55.01%.
In other news, Director Vagn O. Sorensen bought 1,100 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 18th. The shares were bought at an average cost of $70.50 per share, for a total transaction of $77,550.00. Following the acquisition, the director now owns 18,871 shares in the company, valued at $1,330,405.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $74.46, for a total transaction of $505,583.40. Following the completion of the transaction, the chief executive officer now owns 34,450 shares in the company, valued at $2,565,147. The disclosure for this sale can be found here. 16.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. MU Investments Co. Ltd. purchased a new position in Royal Caribbean Cruises during the second quarter worth about $109,000. IFP Advisors Inc raised its position in Royal Caribbean Cruises by 33.3% in the first quarter. IFP Advisors Inc now owns 1,416 shares of the company’s stock worth $116,000 after buying an additional 354 shares during the period. Pinkerton Retirement Specialists LLC purchased a new position in Royal Caribbean Cruises during the second quarter worth about $142,000. Mizuho Asset Management Co. Ltd. raised its position in Royal Caribbean Cruises by 86.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock worth $156,000 after buying an additional 1,075 shares during the period. Finally, Invictus RG purchased a new position in Royal Caribbean Cruises during the first quarter worth about $164,000. Institutional investors own 75.04% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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